54B-162. Power to borrow money.
An association, in its certificate of incorporation or in its bylaws, may authorize the board of directors to borrow money and the board of directors may by resolution adopted by a vote of at least two thirds of the entire board duly recorded in the minutes may authorize the officers of the association to borrow money for the association on such terms and conditions as it may deem proper. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 17.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 54B - Savings and Loan Associations
§ 54B-150 - Manner of making loans.
§ 54B-152 - Real property encumbrances.
§ 54B-153 - Prohibited security.
§ 54B-155 - Rule-making power of Commissioner of Banks.
§ 54B-156 - Loan expenses and fees.
§ 54B-157 - Loans conditioned on certain transactions prohibited.
§ 54B-158 - Insured or guaranteed loans.
§ 54B-159 - Purchase of loans.
§ 54B-160 - Participation in loans.
§ 54B-162 - Power to borrow money.
§ 54B-163 - Methods of loan repayment.
§ 54B-164 - Loans to one borrower.
§ 54B-165 - Professional services.