04 NCAC 16G .0405. NOTICE OF FILING

(a)  Upon determination that an application for conversion is properly executed and is not materially incomplete, the administrator will advise the applicant, in writing, to publish a notice of the filing of the application.  Promptly after receipt of such advice, the applicant shall prominently post the notice in each of its offices and publish a notice of such filing in a newspaper having general circulation in each community in which an office of the applicant is located, as follows:

 

NOTICE OF FILING OF AN APPLICATION FOR CONVERSION

TO A STOCK SAVINGS BANK

 

Notice is hereby given that, pursuant to General Statute 54C‑33,

 

_________________________________________________________

(fill in name of applicant)

has filed an application with the administrator of the Savings Institutions Division for approval to convert to the stock form of organization.  Copies of the application have been delivered to the Savings Institutions Division, 1110 Navaho Drive, Suite 301, Raleigh, North Carolina, 27609.

Written comments, including any objections to the plan of conversion and materials supporting such objections, from any member of the applicant or any aggrieved person will be considered by the administrator if filed within 10 business days after the date of this notice.  Failure to make such written comments or objections may preclude the pursuit of any administrative or judicial remedies.  Any comments or objections shall be sent to the administrator at the address noted above.  The proposed plan of conversion and any comments thereon will be available for inspection by any member of the applicant at the office of the administrator.  A copy of the plan may also be inspected at each office of the applicant.

(b)  If a significant number of the applicant's members only speak a language other than English and a newspaper in that language is published in the area served by the applicant, an appropriate translation of the notice shall also be published in that newspaper.

(c)  Promptly after publication of the notice prescribed in Paragraph (a) of this Rule, the applicant shall file a copy of the notice with the administrator.  The applicant shall also file a copy of an affidavit of publication from each newspaper publisher.

 

History Note:        Authority G.S. 54C‑33; 54C‑53;

Eff. February 15, 1992.