NCCOB
NCCOB

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North Carolina Office of the Commissioner of Banks
Periodic Review of Rules Pursuant to N.C.G.S. § 150B-21.3A

NOTICE: Request for Extension of Filing Deadline for the Public and Expiration of Existing Rules Report for 04 NCAC 16


Periodic Review of Rules

The North Carolina Office of the Commissioner of Banks (“NCCOB”) Rules Review web page has been developed to assist in implementing the requirements of N.C.G.S. §150B-21.3A (Periodic Review of Existing Rules). An initial review will be completed for agency rules in 2018 for 04 NCAC 16, Savings Institutions Division, Savings Institutions Commission. Thereafter, NCCOB's rules will be reviewed on a 10-year review cycle, on a schedule established by the Rules Review Commission.

As part of the initial review, NCCOB is required to evaluate each existing rule and classify the rule as follows:
  • Necessary with substantive public interest – the agency has received public comment on the rule within the past two years or the rule affects the property interest of the regulated public, and the agency knows or suspects that any person may object to the rule;

  • Necessary without substantive public interest – the agency determines that the rule is needed, and the rule has not had public comment in the last two years. This category includes rules that identify information that is readily available to the public, such as an address or telephone number; or

  • Unnecessary – the agency determines that the rule is obsolete, redundant, or otherwise not necessary.
Rules available for public comment:

Rule CitationRule NameAgency Determination
150B-21.3A(d)(1)
Add Comments
04 NCAC 16A .0103DEFINITIONSNecessary without substantive public interest Email Link
04 NCAC 16A .0105RESTRICTIONS: PAYMENT OF DIVIDENDS AND REPURCHASE OF STOCKNecessary without substantive public interest Email Link
04 NCAC 16C .0304TEMPORARY CLOSING OF OFFICENecessary without substantive public interest Email Link
04 NCAC 16E .0103COMPOSITION OF BOARD OF DIRECTORSNecessary without substantive public interest Email Link
04 NCAC 16E .0104BYLAWSNecessary without substantive public interest Email Link
04 NCAC 16E .0301GENERAL POLICIESNecessary without substantive public interest Email Link
04 NCAC 16E .0302RETENTION, REPRODUCTION AND DISPOSITION OF RECORDSNecessary without substantive public interest Email Link
04 NCAC 16E .0401SERVICING LOANSNecessary without substantive public interest Email Link
04 NCAC 16E .0403RECORDS WITH RESPECT TO LOANSNecessary without substantive public interest Email Link
04 NCAC 16E .0502HOLDING OF CERTIFICATE OR PASSBOOKNecessary without substantive public interest Email Link
04 NCAC 16F .0101PERMITTED ACTIVITIESNecessary without substantive public interest Email Link
04 NCAC 16F .0102INVESTMENT LIMITATIONNecessary without substantive public interest Email Link
04 NCAC 16F .0103DEBT LIMITATION FOR WHOLLY‑OWNED SERVICE CORPORATIONSNecessary without substantive public interest Email Link
04 NCAC 16F .0105AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWSNecessary without substantive public interest Email Link
04 NCAC 16G .0103DEFINITIONSNecessary without substantive public interest Email Link
04 NCAC 16G .0104GENERAL REQUIREMENTSNecessary without substantive public interest Email Link
04 NCAC 16G .0106CONFIDENTIAL INFORMATIONNecessary without substantive public interest Email Link
04 NCAC 16G .0311REQUIRED PROVISIONS IN PLAN OF CONVERSIONNecessary without substantive public interest Email Link
04 NCAC 16G .0312OPTIONAL PROVISION IN PLAN OF CONVERSIONNecessary without substantive public interest Email Link
04 NCAC 16G .0313RECORD DATES FOR QUALIFYING DEPOSITSNecessary without substantive public interest Email Link
04 NCAC 16G .0315MANIPULATIVE AND DECEPTIVE DEVICESNecessary without substantive public interest Email Link
04 NCAC 16G .0405NOTICE OF FILINGNecessary without substantive public interest Email Link
04 NCAC 16G .0509SOLICITATIONS TO WHICH RULES APPLYNecessary without substantive public interest Email Link
04 NCAC 16G .0510USE OF PROXY SOLICITING MATERIAL TO BE AUTHORIZEDNecessary without substantive public interest Email Link
04 NCAC 16G .0511INFORMATION TO BE FURNISHED MEMBERSNecessary without substantive public interest Email Link
04 NCAC 16G .0512REQUIREMENTS AS TO PROXYNecessary without substantive public interest Email Link
04 NCAC 16G .0513MATERIAL REQUIRED TO BE FILEDNecessary without substantive public interest Email Link
04 NCAC 16G .0515FALSE OR MISLEADING STATEMENTSNecessary without substantive public interest Email Link
04 NCAC 16G .0516PROHIBITION OF CERTAIN SOLICITATIONSNecessary without substantive public interest Email Link
04 NCAC 16G .0712GENERALNecessary without substantive public interest Email Link
04 NCAC 16G .0713DISTRIBUTION OF OFFERING MATERIALSNecessary without substantive public interest Email Link
04 NCAC 16G .0715PROHIBITED REPRESENTATIONSNecessary without substantive public interest Email Link
04 NCAC 16G .0717PRICING MATERIALSNecessary without substantive public interest Email Link
04 NCAC 16G .0718ORDER FORMS FOR PURCHASE OF CAPITAL STOCKNecessary without substantive public interest Email Link
04 NCAC 16G .0720PERIOD FOR COMPLETION OF SALENecessary without substantive public interest Email Link
04 NCAC 16G .0722EXTENSIONS OF TIME TO COMPLETE OFFERINGSNecessary without substantive public interest Email Link
04 NCAC 16G .0823ADDITIONAL FILING REQUIREMENTSNecessary without substantive public interest Email Link
04 NCAC 16H .0101DEFINITIONSNecessary without substantive public interest Email Link
04 NCAC 16H .0103NOTICE TO SAVINGS INSTITUTIONNecessary without substantive public interest Email Link
04 NCAC 16H .0104ADOPTION OF PLANNecessary without substantive public interest Email Link
04 NCAC 16H .0105APPROVAL BY ADMINISTRATORNecessary without substantive public interest Email Link
04 NCAC 16H .0108WAIVERNecessary without substantive public interest Email Link
04 NCAC 16I .0702DEFINITIONS AND OTHER TERMSNecessary without substantive public interest Email Link
04 NCAC 16I .0703STANDARDS FOR APPROVAL OF ACQUISITION: DUTIES AND CONDUCTNecessary without substantive public interest Email Link
04 NCAC 16I .0801PRIOR WRITTEN APPROVAL REQUIRED FOR ACQUISITIONSNecessary without substantive public interest Email Link
04 NCAC 16I .0802APPLICATION FEES: FILINGSNecessary without substantive public interest Email Link
04 NCAC 16I .0803CONFIDENTIAL INFORMATIONNecessary without substantive public interest Email Link
04 NCAC 16I .0901REQUIRED ACQUISITION APPLICATIONNecessary without substantive public interest Email Link
04 NCAC 16I .0902ACQUISITION PROCEDURENecessary without substantive public interest Email Link
04 NCAC 16I .1001REQUIRED ACQUISITION APPLICATIONSNecessary without substantive public interest Email Link
04 NCAC 16I .1002FOREIGN APPLICANTSNecessary without substantive public interest Email Link
04 NCAC 16I .1003ACQUISITION PROCEDURENecessary without substantive public interest Email Link
04 NCAC 16I .1102SUPERVISIONNecessary without substantive public interest Email Link
04 NCAC 16I .1103ANNUAL REPORTSNecessary without substantive public interest Email Link
04 NCAC 16I .1104FILING AND APPROVAL: AMENDMENTS TO ARTICLES AND BYLAWSNecessary without substantive public interest Email Link
04 NCAC 16I .1105REPORTSNecessary without substantive public interest Email Link
04 NCAC 16I .1301REQUIRED ACQUISITION APPLICATIONNecessary without substantive public interest Email Link
04 NCAC 16I .1302ACQUISITION PROCEDURENecessary without substantive public interest Email Link
04 NCAC 16K .0101DEFINITIONSNecessary without substantive public interest Email Link
04 NCAC 16K .0102APPLICATIONSNecessary without substantive public interest Email Link
04 NCAC 16K .0103CONSOLIDATION OR MERGER OF TWO OR MORE SAVINGS INSTITUTIONSNecessary without substantive public interest Email Link
04 NCAC 16K .0104ADMINISTRATION OF TRUST POWERSNecessary without substantive public interest Email Link
04 NCAC 16K .0105BOOKS AND ACCOUNTSNecessary without substantive public interest Email Link
04 NCAC 16K .0106AUDIT OF TRUST DEPARTMENTNecessary without substantive public interest Email Link
04 NCAC 16K .0107FUNDS AWAITING INVESTMENT OR DISTRIBUTIONNecessary without substantive public interest Email Link
04 NCAC 16K .0108INVESTMENT OF FUNDS HELD AS FIDUCIARYNecessary without substantive public interest Email Link
04 NCAC 16K .0109SELF‑DEALINGNecessary without substantive public interest Email Link
04 NCAC 16K .0110CUSTODY OF INVESTMENTSNecessary without substantive public interest Email Link
04 NCAC 16K .0111COMPENSATION OF SAVINGS INSTITUTIONNecessary without substantive public interest Email Link
04 NCAC 16K .0112COLLECTIVE INVESTMENTNecessary without substantive public interest Email Link
04 NCAC 16K .0117REPORTS AND FEESNecessary without substantive public interest Email Link
04 NCAC 16L .0102DISPOSITION OF ASSETSNecessary without substantive public interest Email Link
04 NCAC 16L .0103REVOCATION AND CANCELLATION OF DISSOLUTIONNecessary without substantive public interest Email Link
04 NCAC 16L .0104WAIVERNecessary without substantive public interest Email Link


"Public comment" is defined by N.C.G.S. 150B-21.3A(a)(5) as a written objection to all or part of a rule. Additionally, pursuant to N.C.G.S. 150B-21.3A(c)(2), in order for the Rules Review Commission to determine whether the public comment has merit, the public comment must address the specific substance of the rule and address any of the standards of Commission review, as set forth in G.S. 150B-21.9(a).

Public comments regarding these rules will be accepted during the period of April 12, 2018 until the close of business on June 12, 2018.

Public comments may be submitted to the Rules Coordinator by clicking on “Add Comment” beside the rule, or by e-mail, fax or mail to the Rules Coordinator listed below:

E-mail: Rules Coordinator

NC Office of the Commissioner of Banks
Attn: Lonnie Christopher, Rules Coordinator
4309 Mail Service Center
Raleigh, NC 27699-4309
Fax: (919) 733-6918