North Carolina § 160A-801 - (Repealed effective January 1, 2022 - see note) Borrowing authority for PPP loans.
Full text of North Carolina North Carolina General Statutes § 160A-801 — (Repealed effective January 1, 2022 - see note) Borrowing authority for PPP loans., with citation guidance and answers to common questions.
§ 160A-801. (Repealed effective January 1, 2022 - see note) Borrowing authority for PPP loans.
Authority. - A tourism development authority may enter into a PPP loan. A tourism development authority shall comply with all the requirements and limitations of the PPP loan program and shall apply for forgiveness of the loan in a timely manner. No Power to Obligate State or City. - A tourism development authority may not obligate the State or the city that established the authority to repay a PPP loan and has no power to pledge the credit of the State or the city that established the authority. Notice. - A tourism development authority shall provide written notice to the city council within 30 days of its acceptance of a PPP loan. The notice shall include the loan amount, the covered period, and the date by which the authority must apply for forgiveness. Repayment. - Notwithstanding any limitation on the use or distribution of occupancy tax proceeds in a local act, a tourism development authority for which a PPP loan is not forgiven, in whole or in part, shall repay the loan, including interest, from occupancy tax proceeds remitted to the authority on or after receipt of the PPP loan proceeds. Sunset. - This Article is repealed effective January 1, 2022. History (2021-3, s. 2.19(b).) Article has a Delayed Repeal Date. - For repeal of this Article, see G.S. 160A-801(e). §§ 160A-802 through 160A-824: Reserved for future codification purposes. §§ 160A-826 through 160A-830: Reserved for future codification purposes. § 160A-832: Reserved for future codification purposes. §§ 160A-834 through 160A-840: Reserved for future codification purposes. §§ 160A-842 through 160A-844: Reserved for future codification purposes. §§ 160A-846 through 160A-847: Reserved for future codification purposes. § 160A-849: Reserved for future codification purposes. §§ 160A-851 through 160A-852: Reserved for future codification purposes. § 160A-854: Reserved for future codification purposes. § 160A-856: Reserved for future codification purposes. § 160A-858: Reserved for future codification purposes. § 160A-860: Reserved for future codification purposes. § 160A-862: Reserved for future codification purposes. § 160A-864: Reserved for future codification purposes.
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 160A-801
What does North Carolina General Statutes § 160A-801 cover?
Section 160A-801 ("(Repealed effective January 1, 2022 - see note) Borrowing authority for PPP loans.") 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 § 160A-801?
A common citation format is "North Carolina General Statutes § 160A-801" (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 § 160A-801 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.