North Carolina § 159G-41 - Withdrawal of loan or grant.
Full text of North Carolina North Carolina General Statutes § 159G-41 — Withdrawal of loan or grant., with citation guidance and answers to common questions.
§ 159G-41. Withdrawal of loan or grant.
A letter of intent to offer an award for a loan or grant for a project is withdrawn if the applicant fails to enter into a construction contract for the project within two years after the date of the letter, unless the Department finds that the applicant has good cause for the failure. An award for a loan or grant for a project is withdrawn if the applicant fails to enter into a construction contract for the project within one year after the date of the award, unless the Department finds that the applicant has good cause for the failure. If the Department finds good cause for an applicant's failure, the Department must set a date by which the applicant must take action or forfeit the loan or grant. History (2005-454, s. 3.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 159G-41
What does North Carolina General Statutes § 159G-41 cover?
Section 159G-41 ("Withdrawal of loan or grant.") 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 § 159G-41?
A common citation format is "North Carolina General Statutes § 159G-41" (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 § 159G-41 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.