North Carolina § 54-47 - Loans.
Full text of North Carolina North Carolina General Statutes § 54-47 — Loans., with citation guidance and answers to common questions.
§ 54-47. Loans.
The board of directors of land and loan associations may contract for loans to the amount of seventy-five percent (75%) of the securities used by them as collateral, where the loans are on long time (three or more years), and for at least one percent (1%) less than is charged by such associations on their loans to shareholders; and they may make short loans to their shareholders on their shares and personal endorsement or personal property. History (1915, c. 172, s. 3; C.S., s. 5206.)
Frequently Asked Questions About North Carolina § 54-47
What does North Carolina General Statutes § 54-47 cover?
Section 54-47 ("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 § 54-47?
A common citation format is "North Carolina General Statutes § 54-47" (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 § 54-47 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.