Laws of North Carolina (Last Updated: May 12, 2015) |
Chapter54B. Savings and Loan Associations. |
Article9. Liquidity Fund |
§54B-211. Renewal of liquidity fund
Latest version.
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If the liquidity fund falls below the amount required by the Commission, the association shall make no new real property loans until the required level has been attained. The refinancing, recasting or renewal of loans previously made and loans made as a result of foreclosure sales under instruments held by the association shall not be considered as new loans, within the meaning of this section.
(1981, c. 282, s. 3.)