§ 113-73. Corporation may not sell or convey without consent of Secretary, or pay higher interest rate than 6%. - North Carolina Statutes

§ 113‑73. Corporation may not sell or convey without consent of Secretary, or pay higherinterest rate than 6%.

No such corporation shall:

(1)        Sell, assign or convey any real property owned by it or anyright, title or interest therein, except upon notice to the Secretary of theterms of such sale, transfer or assignment, and unless the Secretary shallconsent thereto, and if the Secretary shall require it, unless the purchaserthereof shall agree that such real estate shall remain subject to the rules andsupervision of the Secretary for such period as the latter may require;

(2)        Pay interest returns on its mortgage indebtedness at ahigher rate than six per centum (6%) per annum without the consent of theSecretary;

(3)        Mortgage any real property without first having obtained theconsent of the Secretary. (1933, c. 178, s. 13; 1973, c. 1262, s. 86; 1977, c. 771, s. 4; 1989,c. 727, s. 90.)