North Carolina Statutes
§ 54-61 — Foreclosure
North Carolina § 54-61
JurisdictionNorth Carolina
Ch. 54Cooperative Organizations
Art. 8Organization and Powers
Subch. IILAND AND LOAN ASSOCIATIONS
This text of North Carolina § 54-61 (Foreclosure) 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. § 54-61 (2026).
Text
Whenever any loan is called in and the borrower shall fail to pay the principal and interest due to the association as required by law and the notices given him, the land mortgage association may then foreclose upon the mortgaged premises as for a past-due loan. But in no case shall a borrower be liable for a sum greater than the amount of the unpaid portion of the loan with any accretions of interest thereon and expenses incidental to the collection thereof. (1925, c. 223, s. 13.)
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Nearby Sections
15
§ 54-109.1
Definition and purposes§ 54-109.10
Creation and supervision of Division§ 54-109.105
What information deemed confidential; disclosure; certain information deemed public; exchange of information§ 54-109.106
Foreign Credit Unions§ 54-109.11
Duties of Administrator§ 54-109.12
Corporations organized hereunder subject to Administrator of Credit Unions; rules and regulations§ 54-109.13
Revocation of certificate; liquidation§ 54-109.14
Fees§ 54-109.15
Reports§ 54-109.16
Examinations required; payment of cost§ 54-109.17
Records§ 54-109.19
Removal of officers§ 54-109.2
Organization procedure§ 54-109.20
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Bluebook (online)
North Carolina § 54-61, Counsel Stack Legal Research, https://law.counselstack.com/statute/nc/54/54-61.