{"data":{"id":"us-nc/n.c.-gen.-stat.-66-106","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 66-106","heading":"Definitions.","body":"(a)\tFor purposes of this Article, the following definitions apply:\n(1)\tLoan. - An agreement to advance money or property in return for the promise to make payments therefor, whether the agreement is styled as a loan, credit card, line of credit, lease, or otherwise.\n(2)\tLoan broker. - Any person, firm, or corporation that, in return for any consideration from any person, promises to do any of the following:\na.\tProcure for the person, or assist the person in procuring, a loan from any third party.\nb.\tConsider whether or not it will make a loan to the person. This sub-subdivision does not apply to a lender whose loans or advances to any person in North Carolina aggregate more than one million dollars ($1,000,000) in the preceding calendar year.\n(b)\tThis Article does not apply to any of the following:\n(1)\tA party approved as a mortgagee by the Secretary of Housing and Urban Development, the Federal Housing Administration, the Veterans Administration, a National Mortgage Association, or any federal agency.\n(2)\tA party currently designated and compensated by a North Carolina licensed insurance company as its agent to service loans it makes in this State.\n(3)\tAn insurance company registered with and licensed by the North Carolina Insurance Commissioner.\n(4)\tWith respect to a residential mortgage loan, a mortgage lender or mortgage broker licensed pursuant to Article 19B of Chapter 53 of the General Statutes or exempt from licensure pursuant to G.S. 53-244.040(d).\n(5)\tAn attorney-at-law, public accountant, or dealer registered under the North Carolina Securities Act, acting in the professional capacity for which the attorney-at-law, public accountant, or dealer is registered or licensed under the laws of North Carolina. (1979, c. 705, s. 1; 1981, c. 785, s. 1; 1993, c. 339, s. 2; 2001-393, s. 4; 2008-228, s. 17; 2021-93, s. 14.)","path":["Chapter 66. Commerce and Business.","Article 20. Loan Brokers."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_66/GS_66-106.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:07:52Z","sha256":"bdd1d3fcf206d3c20a1ce923720b4fdae9d62d9cd433dd78c1ac8b6c40e36e35","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-66-101-through-66-105","next":"us-nc/n.c.-gen.-stat.-66-107"},"notice":"GroundRules: Original legal text. Not legal advice."}