N.C. Gen. Stat. § 45-36.12
Limitation of secured creditor's liability
Redline — June 1, 2021 → current.View current text →
Current — June 1, 2022
As of June 1, 2021
A secured creditor is not liable under this Article if it:
A secured creditor is not liable under this Article if it:
(1) Established a reasonable procedure to achieve compliance with its obligations under this Article;
(1) Established a reasonable procedure to achieve compliance with its obligations under this Article;
(2) Complied with that procedure in good faith; and
(2) Complied with that procedure in good faith; and
(3) Was unable to comply with its obligations because of circumstances beyond its control.
(3) Was unable to comply with its obligations because of circumstances beyond its control.
History
(2005-123, s. 1.)
(2005-123, s. 1.)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.