North Carolina § 24-12 Applicability of Article

North Carolina Statutes

§ 24-12 — Applicability of Article

North Carolina·Ch. 24 Interest·Art. 2 Loans Secured by Secondary or Junior Mortgages

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 repayable in no less than six nor more than 181 successive monthly payments, which payments shall be substantially equal in amount. (1971, c. 1229, s. 2; 1979, 2nd Sess., c. 1157, ss. 2, 3.)

Free access — add to your briefcase to read the full text and ask questions with AI

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 repayable in no less than six nor more than 181 successive monthly payments, which payments shall be substantially equal in amount. (1971, c. 1229, s. 2; 1979, 2nd Sess., c. 1157, ss. 2, 3.)

North Carolina § 24-12 (Applicability of Article) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.