§ 122D-18 – Account and audits.
122D-18. Account and audits. (a) Subject to the provisions of any contract with the holders of its bonds, the Authority shall establish a system of accounts. (b) The Authority may cause an independent audit of its books and accounts to be prepared annually and the cost thereof may be paid from any available moneys of […]
§ 122D-19 – Cooperation of State agencies.
122D-19. Cooperation of State agencies. All State officers and agencies may render such services to the Authority within their respective functions as may be requested by the Authority. (1985 (Reg. Sess., 1986), c. 1011, s. 1; 1989, c. 500, s. 109(e); 1989 (Reg. Sess., 1990), c. 1074. s. 32(b).)
§ 122D-20 – Construction of Chapter.
122D-20. Construction of Chapter. This Chapter, being necessary for the welfare of the State and its residents, shall be liberally construed to effect the purposes thereof. (1983, c. 789, s. 1; 1985 (Reg. Sess., 1986), c. 1011, s. 1; 1989, c. 500, s. 109(e); 1989 (Reg. Sess., 1990), c. 1074, s. 32(b).)
§ 122D-1 – Short title.
122D-1. Short title. This chapter shall be known and may be cited as the "North Carolina Agricultural Finance Act." (1983, c. 789, s. 1; 1985 (Reg. Sess., 1986), c. 1011, s. 1; 1989, c. 500, s. 109(e); 1989 (Reg. Sess., 1990), c. 1074, s. 32(b).)
§ 122D-2 – Legislative findings and purposes.
122D-2. Legislative findings and purposes. (a) The General Assembly hereby finds and declares that there exists in the State of North Carolina a serious shortage of capital and credit available for investment in agriculture, for domestic and export purposes, at interest rates within the financial means of persons engaged in agricultural production and agricultural exports. […]
§ 122D-3 – Definitions.
122D-3. Definitions. As used in this Chapter, the following terms, unless the context clearly indicates a different meaning, shall have the following meanings: (1) "Agricultural Loan" means a loan made by a lending institution or by the Authority to any person for the purpose of financing or refinancing land acquisition or improvement; soil conservation; irrigation; […]
§ 122D-4 – North Carolina Agricultural Finance Authority.
122D-4. North Carolina Agricultural Finance Authority. (a) The North Carolina Agricultural Finance Authority, a body politic and corporate, is hereby created within the Department of Agriculture and Consumer Services. The Authority shall be constituted a public agency and an instrumentality of the State for the performance of essential public functions. (b) The Authority shall be […]
§ 122D-5 – Officers and employees; administration of Chapter.
122D-5. Officers and employees; administration of Chapter. (a) The Authority shall annually elect a chairman and vice-chairman from its members. (b) The Authority may appoint an Executive Director. The salary of the Executive Director shall be set by the General Assembly in the Current Operations Appropriations Act. (c) The Executive Director shall administer and enforce […]
§ 122D-6 – General powers of Authority.
122D-6. General powers of Authority. The Authority shall have all the powers necessary to give effect to and carry out the purposes and provisions of this Chapter, including the following powers in addition to all other powers granted by other provisions of this Chapter, to: (1) Sue and be sued in its own name and […]
§ 122D-7 – Purchases and sales of agricultural loans.
122D-7. Purchases and sales of agricultural loans. The Authority may purchase or contract to purchase and sell or contract to sell agricultural loans made by lending institutions. All lending institutions are hereby authorized to purchase and sell agricultural loans to the Authority in accordance with the provisions of this Chapter and the rules and regulations […]