§ 122A-1 – Short title.

122A-1. Short title. This Chapter shall be known and may be cited as the "North Carolina Housing Finance Agency Act." (1969, c. 1235, s. 1; 1973, c. 1296, s. 1.)

§ 122A-10 – Validity of any pledge.

122A-10. Validity of any pledge. The pledge of any assets or revenues of the Agency to the payment of the principal of or the interest on any obligations of the Agency shall be valid and binding from the time when the pledge is made and any such assets or revenues shall immediately be subject to […]

§ 122A-11 – Trust funds.

122A-11. Trust funds. Notwithstanding any other provisions of law to the contrary, all moneys received pursuant to the authority of this Chapter shall be deemed to be trust funds to be held and applied solely as provided in this Chapter. The resolution authorizing any obligations or the trust agreement securing the same may provide that […]

§ 122A-12 – Remedies.

122A-12. Remedies. Any holder of obligations issued under the provisions of this Chapter or any coupons appertaining thereto, and the trustee under any trust agreement or resolution authorizing the issuance of such obligations, except to the extent the rights herein given may be restricted by such trust agreement or resolution, may, either at law or […]

§ 122A-13 – Negotiable instruments.

122A-13. Negotiable instruments. Notwithstanding any of the foregoing provisions of this Chapter or any recitals in any obligations issued under the provisions of this Chapter, all such obligations and interest coupons appertaining thereto shall be and are hereby made negotiable instruments under the laws of this State, subject only to any applicable provisions for registration. […]

§ 122A-14 – Obligations eligible for investment.

122A-14. Obligations eligible for investment. Obligations issued under the provisions of this Chapter are hereby made securities in which all public officers and public bodies of the State and its political subdivisions, all insurance companies, trust companies, banking associations, investment companies, executors, administrators, trustees and other fiduciaries may properly and legally invest funds, including capital […]

§ 122A-15 – Refunding obligations.

122A-15. Refunding obligations. The Agency is hereby authorized to provide for the issuance of refunding obligations for the purpose of refunding any obligations then outstanding which shall have been issued under the provisions of this Chapter, including the payment of any redemption premium thereon and any interest accrued or to accrue to the date of […]

§ 122A-16 – Oversight by committees of General Assembly; annual reports.

122A-16. Oversight by committees of General Assembly; annual reports. The Finance Committee of the House of Representatives and the Finance Committee of the Senate shall exercise continuing oversight of the Agency in order to assure that the Agency is effectively fulfilling its statutory purpose; provided, however, that nothing in this Chapter shall be construed as […]

§ 122A-17 – Officers not liable.

122A-17. Officers not liable. No member or other officer of the Agency shall be subject to any personal liability or accountability by reason of his execution of any obligations or the issuance thereof. (1969, c. 1235, s. 17; 1973, c. 1296, s. 57.)

§ 122A-18 – Authorization to accept appropriated moneys.

122A-18. Authorization to accept appropriated moneys. The Agency is authorized to accept such moneys as may be appropriated from time to time by the General Assembly for effectuating its corporate purposes including, without limitation, the payment of the initial expenses of administration and operation and the establishment of a reserve or contingency fund to be […]

§ 122A-19 – Tax exemption.

122A-19. Tax exemption. The exercise of the powers granted by this Chapter will be in all respects for the benefit of the people of the State, for their well-being and prosperity and for the improvement of their social and economic conditions, and the Agency shall not be required to pay any tax or assessment on […]

§ 122A-2 – Legislative findings and purposes.

122A-2. Legislative findings and purposes. The General Assembly hereby finds and declares that as a result of the spread of slum conditions and blight to formerly sound urban and rural neighborhoods and as a result of actions involving highways, public facilities and urban renewal activities there exists in the State of North Carolina a serious […]

§ 122A-20 – Conflict of interest.

122A-20. Conflict of interest. If any member, officer or employee of the Agency shall be interested either directly or indirectly, or shall be an officer or employee of or have an ownership interest in any firm or corporation interested directly or indirectly in any contract with the Agency, including any loan to any sponsor, builder […]

§ 122A-21 – Additional method.

122A-21. Additional method. The foregoing sections of this Chapter shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby and shall be regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation of any powers now existing; provided, […]

§ 122A-22 – Chapter liberally construed.

122A-22. Chapter liberally construed. This Chapter, being necessary for the prosperity of the State and its inhabitants, shall be liberally construed to effect the purposes thereof. (1969, c. 1235, s. 22.)

§ 122A-23 – Inconsistent laws inapplicable.

122A-23. Inconsistent laws inapplicable. Insofar as the provisions of this Chapter are inconsistent with the provisions of any general or special laws, or parts thereof, the provisions of this Chapter shall be controlling. (1969, c. 1235, s. 24.)

§ 122A-3 – Definitions.

122A-3. Definitions. The following definitions apply in this Chapter: (1) Agency. – The North Carolina Housing Finance Agency created by this Chapter. (2) Bonds or notes. – The bonds or the bond anticipation notes or construction loan notes authorized to be issued by the Agency under this Chapter. (3) Counseling agency. – A nonprofit counseling […]

§ 122A-4 – North Carolina Housing Finance Agency.

122A-4. North Carolina Housing Finance Agency. (a) There is hereby created a body politic and corporate to be known as "North Carolina Housing Finance Agency" which shall be constituted a public agency and an instrumentality of the State for the performance of essential public functions. (b) The Agency shall be governed by a board of […]

§ 122a-5 – 122A-5General powers.

122A-5. General powers. The Agency shall have all of the powers necessary or convenient to carry out the provisions of this Chapter, including the power: (1) To participate in any federally assisted lease program for housing for persons of lower income under any federal legislation, including, without limitation, section 8 of the National Housing Act; […]

§ 122A-5.1 – Rules and regulations governing Agency activity.

122A-5.1. Rules and regulations governing Agency activity. (a) The Agency shall from time to time adopt, modify or repeal rules and regulations governing the purchase of federally insured securities by the Agency and the purchase and sale of mortgage loans and the application of the proceeds thereof, including rules and regulations as to any or […]