§ 24-2.4. Prepayment of a loan if there are no prepayment terms or if the prepayment terms are not in accordance with law. - North Carolina Statutes

§24‑2.4.  Prepayment of a loan if there are no prepayment terms or if theprepayment terms are not in accordance with law.

A borrower may prepay a loanin whole or in part without penalty where the loan instrument does notexplicitly state the borrower's rights with respect to prepayment or where theprovisions for prepayment are not in accordance with law. (1985,c. 681, s. 1.)