122D-8. Loans to and deposits with lending institutions.
The Authority may make, or contract to make, loans to and deposits with lending institutions. All lending institutions may borrow funds and accept deposits from the Authority in accordance with the provisions of this Chapter and the rules and regulations of the Authority. The Authority shall require that all proceeds of its loans to or deposits with lending institutions, or an equivalent amount, shall be used by such lending institutions to make agricultural loans, subject to such terms and conditions as the Authority may prescribe. To the extent that any provisions of this section may be inconsistent with any provision of the law governing lending institutions, the provisions of this section shall control. (1983, c. 789, s. 1; 1985 (Reg. Sess., 1986), c. 1011, s. 1; 1989, c. 500, s. 109(e); 1989 (Reg. Sess., 1990), c. 1074, s. 32(b).)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 122D - North Carolina Agricultural Finance Act
§ 122D-2 - Legislative findings and purposes.
§ 122D-4 - North Carolina Agricultural Finance Authority.
§ 122D-5 - Officers and employees; administration of Chapter.
§ 122D-6 - General powers of Authority.
§ 122D-7 - Purchases and sales of agricultural loans.
§ 122D-8 - Loans to and deposits with lending institutions.
§ 122D-9 - Insurance of agricultural loans.
§ 122D-10 - Bonds of the Authority.
§ 122D-13 - Purchase of bonds by Authority.
§ 122D-14 - Exemption from taxes.
§ 122D-15 - Covenant of State.
§ 122D-17 - Bonds as legal investment and security for public deposits.
§ 122D-18 - Account and audits.
§ 122D-19 - Cooperation of State agencies.
§ 122D-20 - Construction of Chapter.