North Carolina § 45-92 - Obligation of servicer to handle escrow funds.
Full text of North Carolina North Carolina General Statutes § 45-92 — Obligation of servicer to handle escrow funds., with citation guidance and answers to common questions.
§ 45-92. Obligation of servicer to handle escrow funds.
Any servicer that exercises the authority to collect escrow amounts on a home loan held or to be held for the borrower for insurance, taxes, and other charges with respect to the property shall collect and make all payments from the escrow account, so as to ensure that no late penalties are assessed or other negative consequences result. The provisions of this section shall apply regardless of whether the loan is delinquent or in default unless the servicer has a reasonable basis to believe that recovery of these funds will not be possible or the loan is more than 90 days in default. History (2007-351, s. 5.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 45-92
What does North Carolina General Statutes § 45-92 cover?
Section 45-92 ("Obligation of servicer to handle escrow funds.") 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 § 45-92?
A common citation format is "North Carolina General Statutes § 45-92" (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 § 45-92 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.