North Carolina § 24-12 Applicability of Article

North Carolina Statutes

§ 24-12 — Applicability of Article

North Carolina § 24-12

Ch. 24Interest

Art. 2Loans Secured by Secondary or Junior Mortgages

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Bluebook

N.C. Gen. Stat. § 24-12 (2026).

Text

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.)

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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.)