N.C. Gen. Stat. § 45-36.12
Limitation of secured creditor's liability
Redline — April 1, 2022 → current.View current text →
Current — June 1, 2022
As of April 1, 2022
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.
(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.