House committee substitute makes the following changes to the 1st edition.

Changes the short and long titles.

Amends GS 53C-2-1 concerning the membership of the Banking Commission (Commission), deleting changes to the number of members that constitute the Commission in the previous edition, restoring the Commission to consisting of 15 members (was, 17). Further provides that 12 members of the Commission will be appointed by the Governor (was, 14 members). Further provides that the Governor will appoint 7 public members (was, 9).

Adds language to the act providing that when the changes to GS 53C-2-1 become effective, the position on the Commission held by Donald Fader will convert to a position assigned for a licensee under GS Chapter 53, Article 19B, after which he will continue on the Commission in such role for his remaining term, expiring on April 1, 2017, or until he resigns or does not fit the definition of licensee for his position.