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Terms Used In North Carolina General Statutes 25-9-606

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Statute: A law passed by a legislature.

For purposes of this Part, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the lien in accordance with the statute under which it was created. (2000-169, s. 1.)