Taking advantage of a loophole in federal law, NationsBank Corp. is planning to combine its banks in North and South Carolina before the new interstate branching law takes effect. NationsBank, which is based in Charlotte, N.C., has filed a plan with the Office of the Comptroller of the Currency to relocate the headquarters of its South Carolina bank to Charlotte in several steps. An 1866 law allows a nationally chartered bank to move its headquarters within a 30-mile radius in any direction, including over state lines.

The bank company estimates that consolidating all its subsidiaries will save about $50 million a year.

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