§ 54B-161 – Sale of loans.
54B-161. Sale of loans. An association may sell any loan, including any participating interest in a loan. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 16.)
§ 54B-162 – Power to borrow money.
54B-162. Power to borrow money. An association, in its certificate of incorporation or in its bylaws, may authorize the board of directors to borrow money and the board of directors may by resolution adopted by a vote of at least two thirds of the entire board duly recorded in the minutes may authorize the officers […]
§ 54B-163 – Methods of loan repayment.
54B-163. Methods of loan repayment. Subject to such rules and regulations as the Commissioner of Banks may prescribe, an association shall agree in writing with borrowers as to the method or plan by which an indebtedness shall be repaid. (1981, c. 282, s. 3; 2001-193, s. 16.)
§ 54B-164 – Loans to one borrower.
54B-164. Loans to one borrower. (a) The aggregate amount of mortgage loans outstanding granted by an association to any one borrower shall not exceed ten percent (10%) of the net withdrawal value of such association’s withdrawable accounts or an amount equal to the total net worth of such association, whichever amount is less. (b) Notwithstanding […]
§ 54B-165 – Professional services.
54B-165. Professional services. (a) A State association or service corporation thereof must notify borrowers prior to the loan commitment of their right to select the attorney or law firm rendering legal services in connection with the loan, and the person or organization rendering insurance services in connection with the loan. Such persons or organizations must […]
§ 54B-166 – Nonconforming investments.
54B-166. Nonconforming investments. Unless otherwise provided, every loan or other investment made in violation of this Chapter shall be due and payable according to its terms and the obligation thereof shall not be impaired; provided, that such violation consists only of the lending of an excessive sum on authorized security or of investing in an […]
§ 54B-167 – Scope of Article.
54B-167. Scope of Article. Nothing in this Article shall be construed to modify Chapter 24 of the General Statutes, or other applicable law, or to allow fees, charges, or interest beyond that permitted by Chapter 24 or other applicable law. (1981, c. 282, s. 3.)
§ 54B-158 – Insured or guaranteed loans.
54B-158. Insured or guaranteed loans. An association may make insured or guaranteed loans in accordance with the provisions of G.S. 53C-5-3. (1981, c. 282, s. 3; 2012-56, s. 41.)
§ 54B-159 – Purchase of loans.
54B-159. Purchase of loans. An association may invest any funds on hand in the purchase of loans of a type which the association could make in accordance with the provisions of this Chapter. (1981, c. 282, s. 3.)
§ 54B-160 – Participation in loans.
54B-160. Participation in loans. An association may invest in a participating interest in loans of a type which the association would be authorized to originate. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 15.)