North Carolina § 24-16 - 1. Loans exempt from §§ 24-12 to 24-17.
Full text of North Carolina North Carolina General Statutes § 24-16 — 1. Loans exempt from §§ 24-12 to 24-17., with citation guidance and answers to common questions.
§ 24-16. 1. Loans exempt from §§ 24-12 to 24-17.
G.S. 24-12 to 24-17 shall not apply to loans made by banks, insurance companies, or their duly designated agents compensated directly by the lender, duly licensed credit unions, production credit associations authorized by the Farm Credit Act of 1933, or savings and loan associations authorized to do business in this State, or to loans made by any other lender licensed by, and under the supervision of, the Commissioner of Banks and the State Banking Commission, under the provisions of Chapter 53 of the General Statutes, or the Commissioner of Insurance, under the provisions of Chapter 58 of the General Statutes. Provided, any lender approved as a mortgagee by the Federal Housing Administration shall be entitled to make loans under this Article. G.S. 24-12 to 24-17 shall not apply to a loan made under Article 1 of this Chapter. History (1971, c. 1229, s. 2; 1983, c. 126, § 9; 1985, c. 154, s. 5.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 24-16
What does North Carolina General Statutes § 24-16 cover?
Section 24-16 ("1. Loans exempt from §§ 24-12 to 24-17.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 24-16?
A common citation format is "North Carolina General Statutes § 24-16" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 24-16 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.