NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

 

 

CHAPTER 214

SENATE BILL 153

 

 

AN ACT TO AMEND G.S. 54-2, METHOD OF INCORPORATION; POWERS, G.S. 54A‑10A, ADMINISTRATOR TO CONSIDER APPLICATION, AND G.S. 54-24.1, SAVINGS AND LOAN COMMISSION.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 54-2(b) as same appears in Volume 2B of the 1975 Replacement Volume of the General Statutes of North Carolina is hereby amended by inserting after the first semicolon in line 15 "or that there is not a reasonable demand and necessity in the community to be served by its establishment;".

Sec. 2.  G.S. 54A-10(7) as same appears in the 1977 Cumulative Supplement to Volume 2B of the 1975 Replacement Volume of the General Statutes of North Carolina is hereby amended by deleting the period at the end thereof and inserting in lieu thereof the following: "and there is a reasonable demand and necessity in the community to be served by the proposed association."

Sec. 3.  G.S. 54-24.1(c) as same appears in Volume 2B of the Replacement Volume of the General Statutes of North Carolina is hereby amended by inserting in line 2 after the second comma "disapprove,".

Sec. 4.  This act shall become effective on June 1, 1979, but shall not apply to any pending applications filed prior to effective date.

In the General Assembly read three times and ratified, this the 27th day of March, 1979.