NORTH CAROLINA GENERAL ASSEMBLY

1969 SESSION

CHAPTER 920

HOUSE BILL 1190

AN ACT RELATING TO THE MEMBERSHIP OF THE STATE BANKING COMMISSION.

The General Assembly of North Carolina do enact:

Section 1.  The second paragraph of G.S. 53-92, as the same appears in the 1967 Supplement to the 1965 Replacement Volume 2B of the General Statutes, is hereby amended as follows:

(a)  By striking out the words and figures "ten (10) members" in line three and inserting in lieu thereof "twelve (12) members";

(b)  By adding a new sentence immediately following the second sentence, to read as follows:

"At least two (2) members shall be selected primarily as representative of the borrowing public, and they shall have no interest in any regulated financial institution other than as a depositor or borrower and shall not be primarily engaged in any business involving retail credit sales."; and

(c)  By adding a new sentence immediately following the sentence ending with the word "qualified" in line 17, to read as follows:

"The two (2) members appointed pursuant to the action of the 1969 General Assembly shall serve until April 1, 1973, and their successors shall serve for four-year terms as is hereinafter provided for other members of the Commission."

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall become effective July 1, 1969.

In the General Assembly read three times and ratified, this the 19th day of June, 1969.