North Carolina General Statutes 54B-166. Nonconforming investments
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In North Carolina General Statutes 54B-166
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
Unless otherwise provided, every loan or other investment made in violation of this Chapter shall be due and payable according to its terms and the obligation thereof shall not be impaired; provided, that such violation consists only of the lending of an excessive sum on authorized security or of investing in an unauthorized investment. (1981, c. 282, s. 3.)