04 NCAC 16E .0602. NET WORTH

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(a) A savings bank shall maintain a net worth of not less than five percent of its assets. Any intangible assets shall be deducted from net worth and assets in computing this requirement.

(b) Any request pursuant to G.S. 54C‑163 for a temporary suspension of this net worth requirement shall include a plan that demonstrates the manner in which net worth will exceed the minimum requirement by the end of the requested suspension period.

History Note: Filed as a Temporary Adoption Eff. October 2, 1991 for a period of 180 days to expire on

March 31, 1992;

Statutory Authority G.S. 54C‑53; 54C‑163;

Eff. February 15, 1992.

                    
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