§ 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; […]
§ 24-12 – Applicability of Article.
24-12. Applicability of Article. This Article shall apply only to loans of money: (1) Secured in whole or in part by a security instrument on real property, other than a first security instrument on real property; and (2) The principal amount of the loan does not exceed twenty-five thousand dollars ($25,000); (3) The loan is […]
§ 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 […]
§ 24-2.3 – State opt-out from federal preemption.
24-2.3. State opt-out from federal preemption. (a) The provisions of section 501, of United States Public Law 96-221, as well as any modifications made to date, shall not apply to loans, mortgages, credit sales and advances made in this State. (b) Effective July 1, 1995, sections 521-524 of United States Public Law 96-221, shall apply […]
§ 24-2.4 – Prepayment of a loan if there are no prepayment terms or if the prepayment terms are not in accordance with law.
24-2.4. Prepayment of a loan if there are no prepayment terms or if the prepayment terms are not in accordance with law. A borrower may prepay a loan in whole or in part without penalty where the loan instrument does not explicitly state the borrower’s rights with respect to prepayment or where the provisions for […]
§ 24-2.5 – Mortgage bankers and mortgage brokers.
24-2.5. Mortgage bankers and mortgage brokers. A mortgage broker or a mortgage banker originating a loan in a table-funded loan transaction in which the mortgage broker or mortgage banker is identified as the original payee of the note shall be considered a lender for purposes of this Chapter. (1999-332, s. 3.)
§ 24-3 – Time from which interest runs.
24-3. Time from which interest runs. Interest is due and payable on instruments, as follows: (1) All bonds, bills, notes, bills of exchange, liquidated and settled accounts shall bear interest from the time they become due, provided such liquidated and settled accounts be signed by the debtor, unless it is specially expressed that interest is […]