§ 24-16.1 – Loans exempt from §§ 24-12 to 24-17.
24-16.1. Loans exempt from 24-12 to 24-17. G.S. 24-12 to 24-17 shall not apply to loans made by banks, insurance companies, or their duly designated agents compensated directly by the lender, duly licensed credit unions, production credit associations authorized by the Farm Credit Act of 1933, or savings and loan associations authorized to do business […]
§ 24-17 – Misdemeanors.
24-17. Misdemeanors. A wilful or knowing violation of G.S. 24-12 through G.S. 24-16 is hereby made a Class 1 misdemeanor. (1971, c. 1229, s. 2; 1993, c. 539, s. 400; 1994, Ex. Sess., c. 24, s. 14(c).)
§ 24-13 – Principal amount defined.
24-13. Principal amount defined. The aggregate of the amount or value actually received at the time of the loan, plus the charges allowed by G.S. 24-14(b) (c) and (f); plus the sum of all existing indebtedness of the borrower paid on his behalf by the lender, shall be deemed the principal amount of the loan. […]
§ 24-14 – Limitations on charges and interest.
24-14. Limitations on charges and interest. (a) No person, copartnership, association, trust, corporation or other legal entity making loans under this Article may charge, take or receive, directly or indirectly, simple interest in excess of one and one-half percent (1 %) per month or an annual rate equivalent to the Federal Discount Rate plus five […]
§ 24-16 – Itemized closing statements.
24-16. Itemized closing statements. Any person, copartnership, association, trust, corporation, or any other legal entity making on its own behalf, or as agent, broker or in other representative capacity on behalf of any other person, copartnership, association, trust, corporation or any other legal entity, a loan or real property financing transaction within the regulatory authority […]
§ 24-9 – Loans exempt from rate and fee limitations.
24-9. Loans exempt from rate and fee limitations. (a) As used in this section, the following definitions apply: (1) "Bank" means a bank, savings and loan association, savings bank, or credit union chartered under the laws of North Carolina or the United States. However, the term "bank" does not include any subsidiary or affiliate of […]
§ 24-9.1 – Certain repayments to consumers by public utilities not subject to claim or defense of usury.
24-9.1. Certain repayments to consumers by public utilities not subject to claim or defense of usury. Notwithstanding any other provision of this Chapter or any other provision of law, any public utility, as defined by G.S. 62-3, shall pay to its customers such rate of interest as may be required by order of the North […]
§ 24-9.3 – Economic development loans.
24-9.3. Economic development loans. Fees or other funds paid by borrowers for contribution to loss reserve accounts administered and controlled by nonprofit corporations that are part of State-funded programs that provide loans to promote economic development shall not be considered interest under this Chapter and shall not be subject to claims or defenses of usury. […]
§ 24-10 – Maximum fees on loans secured by real property.
24-10. Maximum fees on loans secured by real property. (a) No lender on loans made under G.S. 24-1.1 shall charge or receive from any borrower or any agent for a borrower, any fees or discounts unless otherwise allowed where the principal amount is less than three hundred thousand dollars ($300,000) and is secured by real […]
§ 24-10.1 – Late fees.
24-10.1. Late fees. (a) Subject to the limitations contained in subsection (b) of this section, any lender may charge a party to a loan or extension of credit governed by G.S. 24-1.1 or G.S. 24-1.1A a late payment charge as agreed upon by the parties in the loan contract. (b) All of the following limitations […]