GroundRules
N.C. Gen. Stat. § 54-72: Restriction on holding real estate.
Where this section sits in the code
- Chapter 54. Cooperative Organizations.
- SUBCHAPTER II. LAND AND LOAN ASSOCIATIONS.
- Article 8. Organization and Powers.
No land mortgage association shall acquire real estate (other than for the occupation of its offices) except to protect its interest in case any of the mortgages owned by it are foreclosed and the property therein described sold to pay the indebtedness secured thereby. All real estate so acquired shall be promptly sold. (1925, c. 223, s. 24.)
Collected 2026-08-27T18:05:32Z. Source file · JSON