April 29, 1998


NationsBank Corporation
NationsBank Corporate Center
Charlotte, North Carolina 28255

Re:      Registration Statement on Form S-3 filed on April 29, 1998 with respect
         to an Aggregate of $10,000,000,000 of Debt Securities, Warrants, Units,
         Preferred Stock, Depositary Shares and Common Stock

Ladies and Gentlemen:

         We have acted as counsel to NationsBank Corporation (the "Corporation")
in connection with the registration by the Corporation of (A) up to an aggregate
of $10,000,000,000 of its (i) unsecured debt securities (the "Debt Securities"),
which may be either senior or subordinated, (ii) warrants (the "Warrants"),
(iii) units (the "Units"), (iv) shares of its preferred stock (the "Preferred
Stock"), which may be represented by depositary shares (the "Depositary
Shares"), and (v) shares of its common stock (the "Common Stock" and, together
with the Debt Securities, Warrants, Units, Preferred Stock and Depositary
Shares, the "Securities") and (B) an indeterminate amount of Securities that may
be issued upon conversion of Debt Securities, Preferred Stock, Depositary Shares
or Units or upon exercise of Warrants, as set forth in the Registration
Statement on Form S-3 (the "Registration Statement") that is being filed on the
date hereof with the Securities and Exchange Commission by the Corporation
pursuant to the Securities Act of 1933, as amended. This opinion letter is
Exhibit 5.1 to the Registration Statement.

         The Securities are to be issued, separately or together, in one or more
series and are to be sold from time to time as set forth in the Registration
Statement, the Prospectuses contained therein (each, a "Prospectus") and any
amendments or supplements thereto.

         We have relied upon an officer's certificate as to corporate action
heretofore taken with respect to the Securities.

         Based on the foregoing, we are of the opinion that when (1) the
Registration Statement shall have been declared effective by order of the
Securities and Exchange Commission, (2) the terms of any class or series of such
Securities have been authorized by appropriate corporate action of the
Corporation and (3) such Securities have been issued and sold upon the terms and




NationsBank Corporation
April 29, 1998
Page 2

conditions set forth in the Registration Statement, the applicable Prospectus
and the applicable supplement(s) to such Prospectus, then (a) the Debt
Securities, Warrants or Units, as the case may be, will be validly authorized
and issued and binding obligations of the Corporation, and (b) the shares of the
Preferred Stock and Common Stock will be legally issued, fully paid and
non-assessable.

         In rendering this opinion, we are not expressing an opinion as to the
laws of any jurisdiction other than the State of North Carolina and the United
States of America, and we assume no responsibility as to the applicability of
the laws of any other jurisdiction to the subject matter hereof or to the
effects of such laws thereon.

         This opinion is rendered to you and for your benefit solely in
connection with the registration of the Securities. This opinion may not be
relied on by you for any other purpose and may not be relied upon by, nor may
copies thereof be provided to, any other person, firm, corporation or entity for
any purposes whatsoever without our prior written consent. We hereby consent to
be named in the Registration Statement and in each of the Prospectuses as
attorneys who passed upon the legality of the Securities and to the filing of a
copy of this opinion as Exhibit 5.1 to the Registration Statement. Unless the
prior written consent of our firm is obtained, this opinion is not to be quoted
or otherwise referred to in any written report, proxy statement or other
registration statement, nor is it to be filed with or furnished to any other
governmental agency or other person, except as otherwise required by law.


                                       Very truly yours,


                                       /s/ SMITH HELMS MULLISS & MOORE, L.L.P.