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.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 1 - General Provisions.
§ 24-1 - Legal rate is eight percent.
§ 24-1.1 - Contract rates and fees.
§ 24-1.1A - Contract rates on home loans secured by first mortgages or first deeds of trust.
§ 24-1.1E - Restrictions and limitations on high-cost home loans.
§ 24-1.1F - Rate spread home loans.
§ 24-1.2A - Equity lines of credit.
§ 24-1.4 - Interest rates for savings and loan associations.
§ 24-2 - Penalty for usury; corporate bonds may be sold below par.
§ 24-2.1 - Transactions governed by Chapter.
§ 24-2.2 - Interest on extensions of credit by banks and savings and loan associations; exceptions.
§ 24-2.3 - State opt-out from federal preemption.
§ 24-2.5 - Mortgage bankers and mortgage brokers.
§ 24-3 - Time from which interest runs.
§ 24-4 - Obligations due guardians to bear compound interest; rate of interest.
§ 24-5 - Interest on judgments.
§ 24-7 - Interest from verdict to judgment added as costs.
§ 24-8 - Loans not in excess of $300,000; what interest, fees and charges permitted.
§ 24-9 - Loans exempt from rate and fee limitations.
§ 24-9.3 - Economic development loans.
§ 24-10 - Maximum fees on loans secured by real property.
§ 24-10.2 - Consumer protections in certain home loans.
§ 24-11 - Certain revolving credit charges.