§ 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-5.6 – Terms and conditions of loans to and by mortgage lenders.
122A-5.6. Terms and conditions of loans to and by mortgage lenders. (a) The Agency shall from time to time adopt, modify, amend or repeal rules and regulations governing the making of loans to mortgage lenders and the application of the proceeds thereof. These rules and regulations shall be designed to effectuate the general purposes of […]
§ 122A-5.7 – Homeownership Assistance Fund authorized; authority.
122A-5.7. Homeownership Assistance Fund authorized; authority. The North Carolina Housing Finance Agency is authorized to establish a Homeownership Assistance Fund (hereinafter referred to as "the Fund") to assist families of low and moderate income in the purchase of affordable residential housing. To achieve this purpose, the Agency may use the Fund to provide additional security […]
§ 122A-5.8 – Distressed multi-family residential rental housing provisions.
122A-5.8. Distressed multi-family residential rental housing provisions. (a) The General Assembly hereby finds and determines that a serious shortage of decent, safe and sanitary multi-family residential rental housing which persons and families of low and moderate income in the State can afford continues to exist; that it is in the best interests of the State […]
§ 122A-5.9 – Formation of subsidiary corporations to own and operate housing projects.
122A-5.9. Formation of subsidiary corporations to own and operate housing projects. (a) The Agency may acquire, by purchase or otherwise, construct, acquire, develop, own, repair, maintain, improve, rehabilitate, renovate, furnish, equip, operate, and manage residential rental housing projects to rent to persons and families of lower and moderate income. (b) The Agency may form a […]
§ 122A-5.13 – Adult Care Home, Group Home, and Nursing Home Fire Protection Fund authorized; authority.
122A-5.13. Adult Care Home, Group Home, and Nursing Home Fire Protection Fund authorized; authority. (a) The North Carolina Housing Finance Agency shall establish an Adult Care Home, Group Home, and Nursing Home Fire Protection Fund (hereinafter "Fire Protection Fund") to assist owners of adult care homes, group homes for developmentally disabled adults, and nursing homes […]
§ 122A-5.14 – Home Protection Program and Fund.
122A-5.14. Home Protection Program and Fund. (a) The North Carolina Housing Finance Agency shall establish and administer the Home Protection Program ("Program") to assist North Carolina workers who have lost jobs as a result of changing economic conditions in North Carolina when the workers are in need of assistance to avoid losing their homes to […]
§ 122A-5.15 – Workforce Housing Loan Program.
122A-5.15. Workforce Housing Loan Program. (a) The North Carolina Housing Finance Agency shall establish and administer the Workforce Housing Loan Program for the purpose of making revolving loans for qualified low-income housing development in the State. Funds appropriated to the North Carolina Housing Trust Fund for the Workforce Housing Loan Program shall be used by […]
§ 122A-6 – Credit of State not pledged.
122A-6. Credit of State not pledged. Obligations issued under the provisions of this Chapter shall not be deemed to constitute a debt, liability or obligation of the State or of any political subdivision thereof or a pledge of the faith and credit of the State or of any such political subdivision, but shall be payable […]
§ 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 […]