§ 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 […]
§ 24-10.2 – Consumer protections in certain home loans.
24-10.2. Consumer protections in certain home loans. (a) For purposes of this section, the term "consumer home loan" means a loan, including an open-end credit plan but excluding a reverse mortgage transaction, in which (i) the borrower is a natural person, (ii) the debt is incurred by the borrower primarily for personal, family, or household […]
§ 24-11 – Certain revolving credit charges.
24-11. Certain revolving credit charges. (a) On the extension of credit under an open-end credit or similar plan (including revolving credit card plans, and revolving charge accounts, but excluding any loan made directly by a lender under a check loan, check credit or other such plan) under which no service charge shall be imposed upon […]
§ 24-11.1 – Disclosure requirements for credit cards.
24-11.1. Disclosure requirements for credit cards. (a) This section applies to any application, solicitation of an application, offer of credit, or communication extending credit that is: (1) For an open-end credit plan accessed through a credit card or a revolving credit loan accessed through a credit card; (2) Printed; (3) Mailed or otherwise delivered to […]
§ 24-11.2 – Disclosure requirements for charge cards.
24-11.2. Disclosure requirements for charge cards. (a) Applications and Other Communications. – This section applies to any application, solicitation of an application, offer of credit, or communication extending credit that is: (1) For credit accessed through a charge card; (2) Printed; (3) Mailed or otherwise delivered to a person at any address within this State; […]
§ 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 […]
§ 24-2.2 – Interest on extensions of credit by banks and savings and loan associations; exceptions.
24-2.2. Interest on extensions of credit by banks and savings and loan associations; exceptions. Notwithstanding any other provision of law, banks and savings and loan associations chartered in North Carolina by the State of North Carolina or the federal government shall each be entitled to charge on extensions of credit those interest rates allowed any […]