§ 45-21.11. Application of statute of limitations to serial notes. - North Carolina Statutes

§45‑21.11.  Application of statute of limitations to serial notes.

When a series of notesmaturing at different times is secured by a mortgage or deed of trust and theexercise of the power of sale for the satisfaction of one or more of the notesis barred by the statute of limitations, that fact does not bar the exercise ofthe power of sale for the satisfaction of indebtedness represented by othernotes of the series not so barred. (1949, c. 720, s. 1; 1967, c.562, s. 2.)