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Current as of January 01, 2023 | Updated by FindLaw Staff
An association, in its certificate of incorporation or in its bylaws, may authorize the board of directors to borrow money and the board of directors may by resolution adopted by a vote of at least two thirds of the entire board duly recorded in the minutes may authorize the officers of the association to borrow money for the association on such terms and conditions as it may deem proper.
Cite this article: FindLaw.com - North Carolina General Statutes Chapter 54B. Savings and Loan Associations § 54B-162. Power to borrow money - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-54b-savings-and-loan-associations/nc-gen-st-sect-54b-162/
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