§ 54-45 Application of term
§ 54-46 Incorporation and powers
§ 54-47 Loans
§ 54-48 Reserve associations
§ 54-49 Land Conservation and Development Bureau; land mortgage associations
§ 54-50 Number of incorporators; capital stock
§ 54-51 Incorporation
§ 54-52 Organization
§ 54-53 Corporate powers
§ 54-54 Restrictions
§ 54-55 Mortgage forms; approval
§ 54-56 Repayment of loan and interest
§ 54-57 Terms of payment
§ 54-58 Transfer of mortgaged lands
§ 54-59 Calling in loans before due
§ 54-60 Partial recall of debt
§ 54-61 Foreclosure
§ 54-62 Appraisal of lands
§ 54-63 Preference prohibited; association borrowing money
§ 54-64 Bond issues
§ 54-65 Deed of trust
§ 54-66 Collaterals deposited with State Treasurer
§ 54-67 Redemption of bonds
§ 54-68 Validity of bonds after maturity
§ 54-69 Bonds as payment
§ 54-70 Bonds as investments
§ 54-71 Application of earnings; reserve fund
§ 54-72 Restriction on holding real estate
§ 54-73 Banking laws applicable

Terms Used In North Carolina General Statutes > Chapter 54 > Article 8 - Organization and Powers

  • Amortization: Paying off a loan by regular installments.
  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • in writing: may be construed to include printing, engraving, lithographing, and any other mode of representing words and letters: Provided, that in all cases where a written signature is required by law, the same shall be in a proper handwriting, or in a proper mark. See North Carolina General Statutes 12-3
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3