§ 24-13. Principal amount defined. - North Carolina Statutes

§24‑13.  Principal amount defined.

The aggregate of the amount orvalue actually received at the time of the loan, plus the charges allowed byG.S. 24‑14(b) (c) and (f); plus the sum of all existing indebtedness ofthe borrower paid on his behalf by the lender, shall be deemed the principalamount of the loan. (1971, c. 1229, s. 2; 1979, 2nd Sess., c. 1157, s. 4;1985, c. 154, s. 3.)