NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

 

 

CHAPTER 606

HOUSE BILL 1282

 

 

AN ACT ADDING A SUBSECTION TO G.S. 54-30 TO MAKE CONFIDENTIAL CERTAIN RECORDS OF THE ADMINISTRATOR OF THE SAVINGS AND LOAN DIVISION RELATING TO EXAMINATIONS.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 54-30 is hereby repealed and replaced by a new section to read as follows:

"§ 54-30.  Failing to exhibit books or making false statement a misdemeanor; disclosing records or information obtained upon examination prohibited. — (a) If any person, having in his possession or control any books, accounts, or papers of any building and loan association licensed by law, shall refuse to exhibit the same to the Administrator of the Savings and Loan Division, or his agents on demand, or shall knowingly or willingly make any false statement in regard to the same, he shall be guilty of a misdemeanor, and fined and imprisoned, at the discretion of the court.

(b)        Notwithstanding any laws to the contrary, the following records or information of the Savings and Loan Commission, the Administrator of the Savings and Loan Division or the agent of either, shall be confidential and shall not be disclosed or made public:

(1)        records or information obtained or compiled pursuant to G.S. 54-30(a) or obtained or compiled during or in connection with an examination, audit or investigation of any savings and loan association;

(2)        records or information obtained or compiled in preparation or anticipation of litigation, examination, audit or investigation;

(3)        records or information that contain or include the name(s) of any member(s) of a savings and loan association or reveal the collateral given, shares owned, or deposits made by any such member;

(4)        records or information obtained, prepared or compiled during or as a result of an examination, audit or investigation of any savings and loan association or savings and loan practice by an agency of the United States, or jointly by such agency and the Administrator of the Savings and Loan Division or his agents, if such records or information would be confidential under federal law or regulation;

(5)        information and records of information and reports submitted by savings and loan associations to federal regulatory agencies, if such records or information would be confidential under federal law or regulation;

(6)        records of or information regarding complaints from the public received by the Savings and Loan Division and concerning savings and loan associations under its supervision if such complaints would or could result in an investigation;

(7)        any other letters, reports, memoranda, recordings, charts, or other documents or records which would disclose any information set forth in any of the confidential records referred to in subdivisions (1) through (6)."

Sec. 2.  This act shall apply equally to matters concerning stock-owned and mutual savings and loan associations.

Sec. 3.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 21st day of May, 1979.