reglab/housing_qa huggingface dataset:
NC Gen Stat § 24-1.2A (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-1.2A - Equity lines of credit.

 24-1.2A. Equity lines of credit.(a) Notwithstanding any other provision of this Chapter, the parties to an equity line of credit, as defined in G.S. 45-81, may contract in writing for interest at rates which shall not exceed the maximum rates permitted under G.S. 24-1.1(c); provided, however, that the parties may contract for interest rates which shall be adjustable or variable, so long as for adjustable or variable rate contracts the rate in effect for a given period does not exceed the maximum rate permitted under G.S. 24-1.1(c) for the same period.(b) Fees may be charged on equity lines of credit which in the aggregate, over the life of the contract based on the maximum limit of the line of credit, do not exceed those permitted under G.S. 24-10. Any lender may charge a party to a loan or extension of credit governed by this section a fee for the modification, renewal, extension, or amendment of any terms of the loan or extension of credit, such fee not to exceed the greater of one-quarter of one percent (1/4 of 1%) of the balance outstanding at the time of the modification, renewal, extension, or amendment of terms, or fifty dollars ($50.00). (1985, c. 207, s. 1; 1991, c. 506, s. 4; 1998-119, s. 2.1.)
NC Gen Stat § 24-1.4 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-1.4 - Interest rates for savings and loan associations.

 24-1.4. Interest rates for savings and loan associations.(a) Notwithstanding any other provision of law, a savings and loan association domiciled in North Carolina may charge interest or collect fees with respect to any loan to the same extent as if the provisions of section 501 of Public Laws 96-221, as interpreted by the Federal Home Loan Bank Board prior to the effective date of this section, were still in effect in North Carolina.(b) Notwithstanding any other provision of law, any savings and loan association in North Carolina may contract for interest on any loan, purchase money loan, advance, commitment for a loan or forbearance at any rate permitted by federal law to a savings and loan association the accounts of which are insured by the Federal Savings and Loan Insurance Corporation. (1981, c. 282, s. 3; 1983, c. 126, s. 6.)
NC Gen Stat § 24-2 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-2 - Penalty for usury; corporate bonds may be sold below par.

 24-2. Penalty for usury; corporate bonds may be sold below par.The taking, receiving, reserving or charging a greater rate of interest than permitted by this chapter or other applicable law, either before or after the interest may accrue, when knowingly done, shall be a forfeiture of the entire interest which the note or other evidence of debt carries with it, or which has been agreed to be paid thereon. And in case a greater rate of interest has been paid, the person or his legal representatives or corporation by whom it has been paid, may recover back twice the amount of interest paid in an action in the nature of action for debt. In any action brought in any court of competent jurisdiction to recover upon any such note or other evidence of debt, it is lawful for the party against whom the action is brought to plead as a counterclaim the penalty above provided for, to wit, twice the amount of interest paid as aforesaid, and also the forfeiture of the entire interest. If security has been given for an usurious loan and the debtor or other person having an interest in the security seeks relief against the enforcement of the security or seeks any other affirmative relief, the debtor or other person having an interest in the security shall not be required to pay or to offer to pay the principal plus legal interest as a condition to obtaining the relief sought but shall be entitled to the advantages provided in this section. Nothing contained in this section or in G.S. 24-1, however, shall be held or construed to prohibit private corporations from paying a commission on or for the sale of their coupon bonds, nor from selling such bonds for less than the par value thereof. (1876-7, c. 91; Code, s. 3836; 1895, c. 69; 1903, c. 154; Rev., s. 1951; C.S., s. 2306; 1955, c. 1196; 1959, c. 110; 1969, c. 1303, s. 3.)
NC Gen Stat § 24-2.1 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-2.1 - Transactions governed by Chapter.

 24-2.1. Transactions governed by Chapter.(a) For purposes of this Chapter, any extension of credit shall be deemed to have been made in this State, and therefore subject to the provisions of this Chapter if the lender offers or agrees in this State to lend to a borrower who is a resident of this State, or if such borrower accepts or makes the offer in this State to borrow, regardless of the situs of the contract as specified therein.(b) Any solicitation or communication to lend, oral or written, originating outside of this State, but forwarded to and received in this State by a borrower who is a resident of this State, shall be deemed to be an offer or agreement to lend in this State.(c) Any solicitation or communication to borrow, oral or written, originating within this State, from a borrower who is a resident of this State, but forwarded to, and received by a lender outside of this State, shall be deemed to be an acceptance or offer to borrow in this State.(d) Any oral or written offer, acceptance, solicitation or communication to lend or borrow, made in this State to, or received in this State from, a borrower who is not a resident of this State shall be subject to the provisions of this Chapter, applicable federal law, law of the situs of the contract, or law of the residence of any such borrower as the parties may elect.(e) Any person who acquires a right by contract or by assignment to receive payments under a loan made in this State to an individual or individuals who is a resident of this State at the time of the loan and who benefits from the laws of this State by having the loan secured by real property located in this State is deemed to have consented to the courts of this State having jurisdiction over such person for any claim under this Chapter and for any claim related to the loan instrument.(f) The provisions of this section shall be severable and if any phrase, clause, sentence or provision is declared to be invalid, the validity of the remainder of this section shall not be affected thereby.(g) It is the paramount public policy of North Carolina to protect North Carolina resident borrowers through the application of North Carolina interest laws. Any provision of this section which acts to interfere in the attainment of that public policy shall be of no effect. (1979, c. 706, s. 3; 1983, c. 126, s. 11; 2007-351, s. 3.)
NC Gen Stat § 24-2.2 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-2.2 - Interest on extensions of credit by banks and savings and loan associations; exceptions.

 24-2.2. Interest on extensions of credit by banks and savings and loan associations; exceptions.Notwithstanding any other provision of law, banks and savings and loan associations chartered in North Carolina by the State of North Carolina or the federal government shall each be entitled to charge on extensions of credit those interest rates allowed any lender under North Carolina law. Provided, that any extension of credit pursuant to this authority shall be governed by those restrictions or limitations contained in the authorizing statute. Provided further, the authority granted under this section shall not apply to rates provided in Article 15 of Chapter 53, the Consumer Finance Act, nor in Subchapter III of Chapter 54, concerning credit unions. (1983, c. 126, s. 8.)
NC Gen Stat § 24-2.3 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-2.3 - State opt-out from federal preemption.

 24-2.3. State opt-out from federal preemption.(a) The provisions of section 501, of United States Public Law 96-221, as well as any modifications made to date, shall not apply to loans, mortgages, credit sales and advances made in this State.(b) Effective July 1, 1995, sections 521-524 of United States Public Law 96-221, shall apply to loans, mortgages, credit sales, and advances made in this State on or after that date as if North Carolina had never opted out of sections 521-524 of United States Public Law 96-221. (1983, c. 126, s. 1; 1995, c. 387, s. 1.)
NC Gen Stat § 24-2.4 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-2.4 - Prepayment of a loan if there are no prepayment terms or if the prepayment terms are not in accordance with law.

 24-2.4. Prepayment of a loan if there are no prepayment terms or if the prepayment terms are not in accordance with law.A borrower may prepay a loan in whole or in part without penalty where the loan instrument does not explicitly state the borrower's rights with respect to prepayment or where the provisions for prepayment are not in accordance with law. (1985, c. 681, s. 1.)
NC Gen Stat § 24-2.5 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-2.5 - Mortgage bankers and mortgage brokers.

 24-2.5. Mortgage bankers and mortgage brokers.A mortgage broker or a mortgage banker originating a loan in a table-funded loan transaction in which the mortgage broker or mortgage banker is identified as the original payee of the note shall be considered a lender for purposes of this Chapter. (1999-332, s. 3.)
NC Gen Stat § 24-3 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-3 - Time from which interest runs.

 24-3. Time from which interest runs.Interest is due and payable on instruments, as follows:(1) All bonds, bills, notes, bills of exchange, liquidated and settled accounts shall bear interest from the time they become due, provided such liquidated and settled accounts be signed by the debtor, unless it is specially expressed that interest is not to accrue until a time mentioned in the said writings or securities.(2) All bills, bonds, or notes payable on demand shall be held and deemed to be due when demandable by the creditor, and shall bear interest from the time they are demandable, unless otherwise expressed.(3) All securities for the payment or delivery of specific articles shall bear interest as moneyed contracts; and the articles shall be rated by the jury at the time they become due.(4) Bills of exchange drawn or indorsed in the State, and which have been protested, shall carry interest, not from the date thereof, but from the time of payment therein mentioned. (1786, c. 248, P.R.; 1828, c. 2; R.C., c. 13; Code, ss. 44, 45, 46, 47; Rev., s. 1952; C.S., s. 2307.)
NC Gen Stat § 24-4 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-4 - Obligations due guardians to bear compound interest; rate of interest.

 24-4. Obligations due guardians to bear compound interest; rate of interest.Guardians shall have power to lend any portion of the estate of their wards upon bond with sufficient security, to be repaid with interest annually, and all the bonds, notes or other obligations which he shall take as guardian shall bear compound interest, for which he must account, and he may assign the same to the ward on settlement with him. On loans made out of the estate of their wards, guardians may lend at any rate of interest not less than four percent per annum and not more than the maximum lawful rate. This section shall in no way limit or affect the powers of guardians to make other investments which are now or may hereafter be authorized or permitted by the laws, statutory or otherwise, of the State of North Carolina. (1762, c. 69, P.R.; 1816, c. 925, P.R.; R.C., c. 54, s. 23; 1868-9, c. 201, s. 29; Code, s. 1592; Rev., s. 1953; C.S., s. 2308; 1943, c. 728; 1969, c. 1303, s. 4.)
NC Gen Stat § 24-5 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-5 - Interest on judgments.

 24-5. Interest on judgments.(a) Actions on Contracts. - In an action for breach of contract, except an action on a penal bond, the amount awarded on the contract bears interest from the date of breach. The fact finder in an action for breach of contract shall distinguish the principal from the interest in the award, and the judgment shall provide that the principal amount bears interest until the judgment is satisfied. If the parties have agreed in the contract that the contract rate shall apply after judgment, then interest on an award in a contract action shall be at the contract rate after judgment; otherwise it shall be at the legal rate. On awards in actions on contracts pursuant to which credit was extended for personal, family, household, or agricultural purposes, however, interest shall be at the lower of the legal rate or the contract rate. For purposes of this section, "after judgment" means after the date of entry of judgment under G.S. 1A-1, Rule 58.(a1) Actions on Penal Bonds. - In an action on a penal bond, the amount of the judgment, except the costs, shall bear interest at the legal rate from the date of entry of judgment under G.S. 1A-1, Rule 58, until the judgment is satisfied.(b) Other Actions. - In an action other than contract, any portion of a money judgment designated by the fact finder as compensatory damages bears interest from the date the action is commenced until the judgment is satisfied. Any other portion of a money judgment in an action other than contract, except the costs, bears interest from the date of entry of judgment under G.S. 1A-1, Rule 58, until the judgment is satisfied. Interest on an award in an action other than contract shall be at the legal rate. (1786, c. 253, P.R.; 1789, c. 314, s. 4, P.R.; 1807, c. 721, P.R.; R.C., c. 31, s. 90; Code, s. 530; Rev., s. 1954; C.S., s. 2309; 1981, c. 327, s. 1; 1985, c. 214, s. 1; 1987, c. 758; 1999-384, s. 1; 2000-133, s. 8; 2003-59, s. 4.)
NC Gen Stat § 24-6 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-6 - Clerk to ascertain interest upon default judgment on bond, covenant, bill, note or signed account.

 24-6. Clerk to ascertain interest upon default judgment on bond, covenant, bill, note or signed account.When a suit is instituted on a single bond, a covenant for the payment of money, bill of exchange, promissory note, or a signed account, and the defendant does not plead to issue thereon, upon judgment, the clerk of the court shall ascertain the interest due by law, without a writ of inquiry, and the amount shall be included in the final judgment of the court as damages, which judgment shall be rendered therein in the manner prescribed by 24-5. (1797, c. 475, P.R.; R.C., c. 31, s. 91; Code, s. 531; Rev., s. 1956; C.S., s. 2310.)
NC Gen Stat § 24-7 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-7 - Interest from verdict to judgment added as costs.

 24-7. Interest from verdict to judgment added as costs.Except with respect to compensatory damages in actions other than contract as provided in G.S. 24-5, when the judgment is for the recovery of money, interest from the time of the verdict or report until judgment is finally entered shall be computed by the clerk and added to the costs of the party entitled thereto. (Code, s. 529; Rev., s. 1955; C.S., s. 2311; 1981, c. 327, s. 2.)
NC Gen Stat § 24-9.1 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-9.1 - Certain repayments to consumers by public utilities not subject to claim or defense of usury.

 24-9.1. Certain repayments to consumers by public utilities not subject to claim or defense of usury.Notwithstanding any other provision of this Chapter or any other provision of law, any public utility, as defined by G.S. 62-3, shall pay to its customers such rate of interest as may be required by order of the North Carolina Utilities Commission in transactions wherein the utility is refunding to its customers funds advanced by or overcollected from the customers. As to such transactions, the claim or defense of usury by such public utility and its successors or anyone else in its behalf is prohibited. (1981, c. 461, s. 3.)
NC Gen Stat § 24-9.3 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-9.3 - Economic development loans.

 24-9.3. Economic development loans.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. (1995, c. 252, s. 1.)
NC Gen Stat § 24-11.1 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-11.1 - Disclosure requirements for credit cards.

 24-11.1. Disclosure requirements for credit cards.(a) This section applies to any application, solicitation of an application, offer of credit, or communication extending credit that is:(1) For an open-end credit plan accessed through a credit card or a revolving credit loan accessed through a credit card;(2) Printed;(3) Mailed or otherwise delivered to a person at any address within this State;(4) Not delivered pursuant to an existing credit agreement; and(5) Not printed in a newspaper, magazine, or periodical generally circulated outside as well as inside the State.(b) Disclosures. - The following disclosures shall be clearly and conspicuously made in or with all documents described in subsection (a) of this section:(1) The annual percentage rate or, if the rate may vary, a statement that it may vary, the circumstances under which the rate may increase, any limitations on the increase, and the effects of the increase on the other terms of the agreement.(2) The date or occasion upon which the finance charge begins to accrue on a transaction and the duration of any grace period.(3) Whether an annual fee is charged and the amount of the fee.(4) Any delinquency charge, late charge, or collection charge which may be assessed for the late payment of any installment, including the terms and conditions for the imposition of such charge.(c) Federal Requirements. - The form and content of the disclosures described in subsection (b) may be consistent with similar disclosures required by the federal Truth-in-Lending Act, 15 U.S.C. 1601 et seq., and Regulation Z, 12 C.R.F. 226. Any amendment to the Act or Regulation that addresses credit card disclosures shall to the extent it covers applications, solicitations, and other communications covered by this section, replace the disclosure requirements of this section for creditors subject to the Act.(d) Penalty. - A violation of this section shall constitute a violation of G.S. 75-1.1 except that the creditor shall not be liable for any fine, civil penalty, treble damages, or attorney's fee where the creditor shows by a preponderance of the evidence that the violation was not intentional and resulted from a bona fide error, notwithstanding the maintenance of procedures reasonably adapted to avoid any such error.(e) Severability. - If any part of this section is found unconstitutional or is preempted by federal law with regard to a creditor because the creditor is located outside of the State, that part does not apply to creditors located within the State. (f) Nothing in this section shall be construed to authorize any fee, charge, surcharge or penalty not otherwise authorized by law. (1987, c. 735, s. 1.)
NC Gen Stat § 24-11.2 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 1 - General Provisions.|§ 24-11.2 - Disclosure requirements for charge cards.

 24-11.2. Disclosure requirements for charge cards.(a) Applications and Other Communications. - This section applies to any application, solicitation of an application, offer of credit, or communication extending credit that is:(1) For credit accessed through a charge card;(2) Printed;(3) Mailed or otherwise delivered to a person at any address within this State;(4) Not delivered pursuant to an existing credit agreement; and(5) Not printed in a newspaper, magazine, or periodical generally circulated outside as well as inside the State.For purposes of this section, the term "charge card" means any card, plate or other device pursuant to which the charge card issuer extends credit which is not subject to a finance charge and where the charge cardholder cannot automatically access credit that is repayable in installments.  (b) Disclosures. - The following disclosures shall be clearly and conspicuously made in or with all documents described in subsection (a) of this section:(1) The annual fee and other charges, if any, applicable to the issuance or use of the charge card.(2) That charges incurred by the use of the charge card are due and payable upon receipt of a periodic statement of charges.(3) Any delinquency charge, late charge, or collection charge which may be assessed for late payment, including the terms and conditions for the imposition of such charge.(c) Federal Requirements. - The form and content of the disclosures described in subsection (b) may be consistent with similar disclosures required by the federal Truth-in-Lending Act, 15 U.S.C. 1601 et seq., and Regulation Z, 12 C.F.R. 226. Any amendment to the Act or Regulation that addresses credit card disclosures shall, to the extent it covers applications, solicitations, and other communications covered by this section, replace the disclosure requirements of this section for creditors subject to the Act.(d) Penalty. - A violation of this section shall constitute a violation of G.S. 75-1.1 except that the creditor shall not be liable for any fine, civil penalty, treble damages, or attorney's fee where the creditor shows by a preponderance of the evidence that the violation was not intentional and resulted from a bona fide error, notwithstanding the maintenance of procedures reasonably adapted to avoid any such error.(e) Severability. - If any part of this section is found unconstitutional or is preempted by federal law with regard to a creditor because the creditor is located outside of the State, that part does not apply to creditors located within the State.(f) Nothing in this section shall be construed to authorize any fee, charge, surcharge or penalty not otherwise authorized by law. (1987, c. 735. s. 1.)
NC Gen Stat § 24-12 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 2 - Loans Secured by Secondary or Junior Mortgages.|§ 24-12 - Applicability of Article.

 24-12. Applicability of Article.This Article shall apply only to loans of money:(1) Secured in whole or in part by a security instrument on real property, other than a first security instrument on real property; and(2) The principal amount of the loan does not exceed twenty-five thousand dollars ($25,000);(3) The loan is repayable in no less than six nor more than 181 successive monthly payments, which payments shall be substantially equal in amount. (1971, c. 1229, s. 2; 1979, 2nd Sess., c. 1157, ss. 2, 3.)
NC Gen Stat § 24-13 (2021)
2021 North Carolina General Statutes|Chapter 24 - Interest|Article 2 - Loans Secured by Secondary or Junior Mortgages.|§ 24-13 - Principal amount defined.

 24-13. Principal amount defined.The aggregate of the amount or value actually received at the time of the loan, plus the charges allowed by G.S. 24-14(b) (c) and (f); plus the sum of all existing indebtedness of the borrower paid on his behalf by the lender, shall be deemed the principal amount of the loan. (1971, c. 1229, s. 2; 1979, 2nd Sess., c. 1157, s. 4; 1985, c. 154, s. 3.)