- Title
- Session laws and resolutions passed by the General Assembly [1971]
-
-
- Date
- 1971
-
-
- Creator
- ["North Carolina."]
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- Place
- ["North Carolina, United States"]
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Session laws and resolutions passed by the General Assembly [1971]
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Session Laws — 1971
CHAPTER 864
(6) Employment Security Commission; transfer. — The Employment Security
Commission, as contained in Chapter 96 of the General Statutes and the laws of this
State, is hereby transferred by a Type II transfer to the Department of Commerce.
(7) North Carolina Industrial Commission; transfer. — The North Carolina
Industrial Commission, as contained in Chapter 97 of the General Statutes and the
laws of this State, is hereby transferred by a Type II transfer to the Department of
Commerce.
(8) Commissioner of Banks; State Banking Commission; transfer . — The
Commissioner of Banks and the State Banking Commission, as contained in Chapter
53 of the General Statutes and the laws of this State, are hereby transferred by a
Type II transfer to the Department of Commerce.
(9) Savings and Loan Division; transfer. — The Savings and Loan Association
Division of the Department of Insurance, organized and operating under authority of
Article 4 of Chapter 51 of the General Statutes and the laws of this State, is hereby
transferred by a Type II transfer to the Department of Commerce. There shall he
established in the Department of Commerce a Savings and Loan Association Division
which shall be unde)' the supervision of the Administrator of the Savings and Loan
Division appointed by the Secretary of Commerce. All reference in Articles 1 through
6 of Chapter 54 of the General Statutes. G.S. 195-228.26. G.S. 105-228.27 and lines 5
and 10 of G.S. 36-3 to "Insurance Commissioner” or "Commissioner of Insurance” or
"Commissioner” when the reference is to the Commissioner of Insurance are hereby
deleted and the words "Administrator of the Savings and Loan Division” are inserted
in lieu thereof.
(10) Savings and Loan Advisory Board; transfer. The Savings and Loan
Advisory Board, as provided for in G.S. 54-24.1 and other laws of this State, is hereby
transferred by a Type II transfer to the Department of Commerce, and the name of
the Board wherever the same appears shall be changed to 'The State Savings and
Loan Commission." Effective upon the transfer of the Board under this subsection
and the transfer of the Division described above in Subdivision (9) of this section. G.S.
54-24.1 is amended bv rewriting the entire section to read as follows:
”§ 51-24.1. Savings and Loan Commission . — (a) There shall be in the Department
of Commerce a Savings and Loan Commission which shall consist of seven members.
The Secretary of the Department of Commerce shall be ex officio a member of the
Commission and serve as Chairman of the Commission. The five members of the
Savings and Loan Advisory Board, heretofore appointed by the Governor, shall
continue as members of this Commission and shall serve their full terms and their
successors shall be appointed in the same manner and for the same terms as was
heretofore provided for members of the Savings and I.oan Advisory Board. Upon the
effective dale of this section, as amended, and quadrennially thereafter, the Governor
shall appoint a sixth member of the Commission whose term shall be for four years.
At least three members of the Commission shall be persons who have had experience
in management of savings and loan associations.
Meetings shall be held regularly as fixed by the bylaws but special meetings may
be had at any time upon call of the Chairman, or any three members of the
Commission. Members of the Commission shall be reimbursed for expenses incurred
in the performance of their duties under this act as prescribed in G.S. 138-5.
(b> The relationship between the Secretary of Commerce and the Savings and
Loan Commission shall be as defined for a
Туре
II transfer under Section 1 of this
act.
1283
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