Laws of North Carolina (Last Updated: May 12, 2015) |
Chapter54. Cooperative Organizations. |
SubchapterII. LAND AND LOAN ASSOCIATIONS |
Article8. Organization and Powers |
§54-69. Bonds as payment
Latest version.
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If the association gives notice to a debtor for repayment of the mortgage loan the latter must pay to the association in cash or in its bonds at par the face of the same so far as it has not yet been covered by his assets in the amortization and payments.
(1925, c. 223, s. 21.)