§ 54B-156 – Loan expenses and fees.
54B-156. Loan expenses and fees. (a) Subject to the provisions of N.C.G.S. Chapter 24, an association may require borrowers to pay all reasonable expenses incurred by the association in connection with making, closing, disbursing, extending, adjusting or renewing loans. Such charges may be collected by the association from the borrower and paid to any persons, […]
§ 54B-157 – Loans conditioned on certain transactions prohibited.
54B-157. Loans conditioned on certain transactions prohibited. No association or service corporation thereof shall require as a condition of making a loan that the borrower contract with any specific person or organization for particular services. (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.)
§ 54B-151 – Permitted loans.
54B-151. Permitted loans. (a) An association may lend funds on the sole security of pledged withdrawable accounts, but no loan so made shall exceed the withdrawal value of the pledged account. However, no such loan shall be made when an association has applications for withdrawals or maturities which have not been paid. (b) An association […]
§ 54B-152 – Real property encumbrances.
54B-152. Real property encumbrances. (a) Real property is deemed unencumbered within the meaning of this Chapter unless the security instrument thereon establishes a first lien upon such real property or interest therein. (b) Notwithstanding the provisions of the immediately preceding subsection, real property is not deemed encumbered within the meaning of this Chapter merely by […]
§ 54B-150 – Manner of making loans.
54B-150. Manner of making loans. (a) The board of directors shall establish procedures by which loans are to be considered, approved, and made by the association. (b) All actions on loan applications to the association shall be reported to the board of directors at its next meeting. (1981, c. 282, s. 3; 1983, c. 144, […]