North Carolina § 54-59 - Calling in loans before due.
Full text of North Carolina North Carolina General Statutes § 54-59 — Calling in loans before due., with citation guidance and answers to common questions.
§ 54-59. Calling in loans before due.
Every land mortgage association shall have the power to call in loans upon 60 days' notice: When the person acquiring the lands upon which money has been loaned does not comply with the provisions of G.S. 54-58 and fulfill the obligations incumbent upon him; When the debtor does not meet the obligation imposed upon him by his contract and the bylaws of the land mortgage association; When the mortgaged premises become subject to forced sale; When the mortgaged premises are depreciating in value because of lack of care, of failure to maintain and conserve or from other cause. The trustees of the association, whenever necessary, shall provide for an inspection of the mortgaged premises by the State Department of Agriculture and Consumer Services for an investigation of the care which is being given said premises, and may employ an expert to inspect the soil with a view of determining whether or not the same is being depleted. History (1925, c. 223, s. 11; 1997-261, s. 109.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 54-59
What does North Carolina General Statutes § 54-59 cover?
Section 54-59 ("Calling in loans before due.") 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 § 54-59?
A common citation format is "North Carolina General Statutes § 54-59" (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 § 54-59 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.