North Carolina § 115C-459 Terms of loans

North Carolina Statutes

§ 115C-459 — Terms of loans

North Carolina § 115C-459

Ch. 115CElementary and Secondary Education

Art. 32State Literary Fund

Subch. VIIFISCAL AFFAIRS

This text of North Carolina § 115C-459 (Terms of loans) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 115C-459 (2026).

Text

Loans made under the provisions of this Article shall be payable in 10 installments, shall bear interest at a uniform rate determined by the State Board of Education not to exceed eight percent (8%), payable annually, and shall be evidenced by the note of the county, executed by the chairman, the clerk of the board of county commissioners, and the chairman and secretary of the local board of education, and deposited with the State Treasurer. The first installment of such loan, together with the interest on the whole amount then due, shall be paid by the local board on the tenth day of February after the tenth day of August subsequent to the making of such loan, and the remaining installments, together with the interest, shall be paid on the tenth day of February of each subsequent year unt

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Loans made under the provisions of this Article shall be payable in 10 installments, shall bear interest at a uniform rate determined by the State Board of Education not to exceed eight percent (8%), payable annually, and shall be evidenced by the note of the county, executed by the chairman, the clerk of the board of county commissioners, and the chairman and secretary of the local board of education, and deposited with the State Treasurer. The first installment of such loan, together with the interest on the whole amount then due, shall be paid by the local board on the tenth day of February after the tenth day of August subsequent to the making of such loan, and the remaining installments, together with the interest, shall be paid on the tenth day of February of each subsequent year until all shall have been paid. (1955, c. 1372, art. 11, s. 2; 1971, c. 1094; 1981, c. 423, s. 1; 1983, c. 477.)
§ 115C-460: Repealed by Session Laws 2009-451, s. 7.37(c), effective July 1, 2009.
§ 115C-461: Repealed by Session Laws 2009-451, s. 7.37(c), effective July 1, 2009.
§ 115C-462: Repealed by Session Laws 2009-451, s. 7.37(c), effective July 1, 2009.
§ 115C-463: Repealed by Session Laws 2009-451, s. 7.37(c), effective July 1, 2009.
§ 115C-464: Repealed by Session Laws 2009-451, s. 7.37(c), effective July 1, 2009.
§ 115C-465: Repealed by Session Laws 2009-451, s. 7.37(c), effective July 1, 2009.
§ 115C-466: Repealed by Session Laws 2009-451, s. 7.37(c), effective July 1, 2009.
§ 115C-467: Repealed by Session Laws 2009-451, s. 7.37(c), effective July 1, 2009.
§ 115C-468: Recodified as G.S. 116-209.33 by Session Laws 2005-276, s. 9.17(b), effective January 1, 2006, and applicable to scholarship loans awarded on or after that date.
§§ 115C-469, 115C-470: Repealed by Session Laws 2005-276, s. 9.17(b), effective January 1, 2006, and applicable to scholarship loans awarded on or after that date.
§ 115C-471: Recodified as G.S. 116-209.34 by Session Laws 2005-276, s. 9.17(b), effective January 1, 2006, and applicable to scholarship loans awarded on or after that date.
§ 115C-472: Repealed by Session Laws 1997-18, s. 11.
§ 115C-472.1: Repealed by Session Laws 2005-276, s. 9.17(b), effective January 1, 2006, and applicable to scholarship loans awarded on or after that date.
§ 115C-472.5: Repealed by Session Laws 2009-451, s. 7.36(a), effective July 1, 2009.
§§ 115C-472.6 through 115C-472.9. Reserved for future codification purposes.
§ 115C-472.10: Repealed by Session Laws 2014-100, s. 8.11(g), effective July 1, 2014.
§ 115C-472.11: Reserved for future codification purposes.
§ 115C-472.12: Reserved for future codification purposes.
§ 115C-472.13: Reserved for future codification purposes.
§ 115C-472.14: Reserved for future codification purposes.
§ 115C-472.15: Repealed by Session Laws 2013-364, s. 6(a), effective July 1, 2013.