(Download) "North Carolina on Relation of Banking Commission v. Avery County Bank" by Court of Appeals of North Carolina No. 7210SC78 # Book PDF Kindle ePub Free
eBook details
- Title: North Carolina on Relation of Banking Commission v. Avery County Bank
- Author : Court of Appeals of North Carolina No. 7210SC78
- Release Date : January 26, 1972
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 71 KB
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[14 NCApp Page 284] Among other things, G.S. 53-62 (b) provides that the Commissioner shall not approve the establishment of a branch bank until
". . . he shall find (i) that the establishment of such branch or teller's window will meet the needs and promote the convenience
of the community to be served . . . ." We concede that this may be considered a somewhat nebulous criteria. The word "need,"
however, is a relative term. Its meaning, within reasonable limits, varies with the circumstances of its use. Appellant, arguing
that the standard is closely akin to the familiar "public convenience and necessity" standard of public utility law, urges
that an applicant must establish the existence of a specific unmet banking need, which existing banks are unable or unwilling
to provide, as a prerequisite to the establishment of a new facility. We reject this contention as unsound. Differences between
the operation of public utilities and the business of banking are so patent as not to require discussion and so are the differences
in the public interest which prompts their respective regulation by separate commissions on the hypothesis that each commission
possesses a high degree of specialized competence.