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North Carolina General Statutes Chapter 24. Interest § 24-9.3. Economic development loans

Current as of January 01, 2023 | Updated by Findlaw Staff

Fees or other funds paid by borrowers for contribution to loss reserve accounts administered and controlled by nonprofit corporations that are part of State-funded programs that provide loans to promote economic development shall not be considered interest under this Chapter and shall not be subject to claims or defenses of usury.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 24. Interest § 24-9.3. Economic development loans - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-24-interest/nc-gen-st-sect-24-9-3/

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