- Title
- Public laws and resolutions passed by the General Assembly at its session of ...[1933]
-
-
- Date
- 1933
-
-
- Creator
- ["North Carolina."]
-
- Place
- ["North Carolina, United States"]
-
Public laws and resolutions passed by the General Assembly at its session of ...[1933]
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366
1933 — Chapter 238—239
Sale by Commis¬
sioner of Banks
of corporate stocks
in banks being
liquidated.
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if first sale fails
to bring fair price.
Listed stocks
excepted.
Conflicting laws
repealed.
C. S. 220.
amended.
H.B. 760 CHAPTER 238
AN ACT TO REGULATE THE SALE OF CERTAIN AS¬
SETS OF DEFUNCT BANKS.
The General Assembly of North Carolina do enact:
Section 1. That the Banking Commission, when liqui¬
dating any defunct hank or trust company, having among its
assets, stock in resident corporations, joint stock companies
or limited partnerships, shall sell such stock at public auc¬
tion at the courthouse door of the county wherein such bank
or trust company was doing business, after first advertising
the stock for sale at the courthouse door and in some news¬
paper, if published, in said county for a period of four suc¬
cessive weeks next preceding the sale thereof: Provided,
that if, in the opinion of the Commissioner of Banks, the
said stock fails to bring a fair and reasonable price at
such sale, he shall not recommend the confirmation of such
sale to the court but within ten days from the date of sale
shall by written notice to the purchaser rejeet the bid and
shall cause the stock to be re-advertised for sale for a period
of two weeks next preceding the date of sale, as hereinbe¬
fore provided, and he may continue to re-advertise and offer
for sale such stock in the aforesaid manner until the same
shall bring a fair and reasonable price: Provided, however,
that this act shall not apply to stocks and bonds listed on
New York Stock Exchange or any other stock exchange.
Sec. 2. That all law's and clauses of laws in conflict here¬
with be and the same are hereby repealed.
Sec. 3. That this act shall be and remain in full force and
effect from and after its ratification.
Ratified this the 7th day of April, A. D. 1933.
H.B. 918 CHAPTER 239
AN ACT TO AMEND SECTION 220(E) CONSOLIDATED
STATUTES OF NINETEEN HUNDRED AND NINE¬
TEEN, VOLUME THREE, AS AMENDED, AND TO
LIMIT THE POWERS OF THE COMMISSIONER OF
BANKS.
The General Assembly of North Carolina do enact:
Section 1. Section 220(e), Consolidated Statutes of nine¬
teen hundred and nineteen, Volume three as amended, be
amended by changing the period at the end thereof to a
colon, and adding the following: “Provided further, that the
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