North Carolina General Statutes 54B-153. Prohibited security
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Terms Used In North Carolina General Statutes 54B-153
- Association: includes a State association or a federal association unless limited by use of the words "State" or "federal. See North Carolina General Statutes 54B-4
- Capital stock: means securities which represent ownership of a stock association. See North Carolina General Statutes 54B-4
No association may accept its own capital stock or its own mutual capital certificates as security for any loan made by such association. (1981, c. 282, s. 3.)