45-36.12. Limitation of secured creditor's liability.
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;
(2) Complied with that procedure in good faith; and
(3) Was unable to comply with its obligations because of circumstances beyond its control. (2005-123, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 45 - Mortgages and Deeds of Trust
§ 45-36.2 - Obligation of good faith.
§ 45-36.5 - Notificationmanner of giving and effective date.
§ 45-36.6 - Document of rescissioneffect; liability for wrongful recording.
§ 45-36.7 - Payoff and short-pay statements; request and content.
§ 45-36.7A - Credit suspension directives.
§ 45-36.8 - Understated payoff statement or short-pay statementcorrection; effect.
§ 45-36.9 - Secured creditor to submit satisfaction or release for recording; liability for failure.
§ 45-36.10 - Content and effect of satisfaction.
§ 45-36.11 - Satisfactionform.
§ 45-36.12 - Limitation of secured creditor's liability.
§ 45-36.13 - Eligibility to serve as satisfaction agent.
§ 45-36.14 - Affidavit of satisfactionnotification to secured creditor.
§ 45-36.15 - Affidavit of satisfactionauthorization to submit for recording.
§ 45-36.16 - Affidavit of satisfactioncontent.
§ 45-36.17 - Affidavit of satisfactionform.
§ 45-36.18 - Affidavit of satisfactioneffect.
§ 45-36.19 - Liability of satisfaction agent.
§ 45-36.20 - Trustee's satisfaction of deed of trustcontent and effect.
§ 45-36.21 - Trustee's satisfaction of deed of trustform.
§ 45-36.22 - Partial releasecontent and effect; form.
§ 45-36.23 - Obligation releasecontent and effect.
§ 45-36.24 - Expiration of lien of security instrument.
§ 45-37 - Satisfaction of record of security instruments.
§ 45-37.2 - Indexing satisfactions and other documents relating to security instruments.
§ 45-38 - Recording of foreclosure.
§ 45-41 - Recorded deed of release of mortgagee's representative.
§ 45-42 - Satisfaction of corporate mortgages by corporate officers.
§ 45-42.1 - Corporate cancellation of lost mortgages by register of deeds.
§ 45-42.3 - Automatic release of real property from ancillary security instruments.