§ 54-72. Restriction on holding real estate. - North Carolina Statutes

§54‑72.  Restriction on holding real estate.

No land mortgage associationshall acquire real estate (other than for the occupation of its offices) exceptto protect its interest in case any of the mortgages owned by it are foreclosedand the property therein described sold to pay the indebtedness securedthereby. All real estate so acquired shall be promptly sold. (1925,c. 223, s. 24.)