N.C. Gen. Stat. § 45A-7
Penalty
Redline — December 1, 2021 → current.View current text →
Current — April 1, 2022
As of December 1, 2021
Any party violating this Chapter is liable to any other party suffering a loss due to that violation for that other party's actual damages plus reasonable attorneys' fees. In addition, any party violating this Chapter shall pay to the party or parties suffering a loss an amount equal to one thousand dollars ($1,000) or double the amount of interest payable on any loan for the first 60 days after the loan closing, whichever amount is greater.
Any party violating this Chapter is liable to any other party suffering a loss due to that violation for that other party’s actual damages plus reasonable attorneys’ fees. In addition, any party violating this Chapter shall pay to the party or parties suffering a loss an amount equal to one thousand dollars ($1,000) or double the amount of interest payable on any loan for the first 60 days after the loan closing, whichever amount is greater.
History
(1995 (Reg. Sess., 1996), c. 714, s. 1.)
Opinions of Attorney General
Agricultural Credit Association as Political Subdivision of United States. - G.S. 45A-7 is ambiguous as to whether an agricultural credit association is a political subdivision of the United States within the meaning of subdivision (2). See opinion of Attorney General to The Honorable Frank Mitchell, Member of the North Carolina House of Representatives, and The Honorable Charles W. Albertson, Member of the North Carolina Senate, 2001 N.C. AG LEXIS 31 (7/5/01).
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.