§ 45-36.12. Limitation of secured creditor's liability. - North Carolina Statutes

§ 45‑36.12.  Limitationof secured creditor's liability.

A secured creditor is notliable under this Article if it:

(1)        Established areasonable procedure to achieve compliance with its obligations under thisArticle;

(2)        Complied with thatprocedure in good faith; and

(3)        Was unable to complywith its obligations because of circumstances beyond its control. (2005‑123, s. 1.)