North Carolina General Statutes 24-2.4. Prepayment of a loan if there are no prepayment terms or if the prepayment terms are not in accordance with law
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Terms Used In North Carolina General Statutes 24-2.4
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
A borrower may prepay a loan in whole or in part without penalty where the loan instrument does not explicitly state the borrower’s rights with respect to prepayment or where the provisions for prepayment are not in accordance with law. (1985, c. 681, s. 1.)