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Code · North Carolina · Chapter 54B — Savings and Loan Associations

§ 54B-211. Renewal of liquidity fund.

76 words·~1 min read·/nc/chapter-54b/54b-211

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§ 54B-211. Renewal of liquidity fund.
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.)
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