04 NCAC 16C .0102. CHARTER APPLICATION RESTRICTIONS

(a)  A charter application which has at least five of the same incorporators or directors as that of a pending application shall not be filed with the Commissioner of Banks until the pending application has been processed by the Commission.

(b)  A charter application which has been denied by the Commission shall not be processed by the Commission upon refiling unless:

(1)           a period of six months has elapsed since the denial; or

(2)           another charter application is filed with the Commissioner of Banks by different incorporators for any part of the same service area as determined by the Commissioner of Banks.

 

History Note:        Authority G.S. 54B-2; 54B-52; 54B-55; 54C-2; 54C-52; 54C-53;

Eff. August 31, 1981;

Amended Eff. December 1, 2011.