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Can you summarize NCGS 53C-2-7?
Commission and Commissioner. > Official record.
Short Summary
This legal document pertains to the Commissioner’s official acts, rulings, and transactions. The Commissioner is required to keep a record of these acts, rulings, and transactions in the OCOB. The records are generally open to inspection and copying by any person, subject to certain conditions. However, there are specific records that are considered confidential and are exempt from disclosure or public inspection. These include records compiled during or in connection with examinations, audits, or investigations, records containing personal information about individuals, records containing information about the character, competency, or experience of certain individuals or parties, records of financial institutions in dissolution, and records obtained from federal regulatory agencies. The Commissioner may share confidential records with state or federal law enforcement or regulatory agencies under written agreement, and in certain circumstances, confidential records may be produced for discovery in criminal or enforcement proceedings. Additionally, the document allows banks to disclose their regulatory rating to insurance carriers for the purpose of obtaining insurance coverage, with the condition that the information remains confidential. No specific penalties are mentioned in this document.
Whom does it apply to?
The Commissioner
What does it govern?
Commissioner's official acts, rulings, and transactions
What are exemptions?
Certain records are confidential and not subject to disclosure or public inspection
What are the Penalties?
No penalties mentioned
Jurisdiction
North Carolina