§ 54B-156. Loan expenses and fees. - North Carolina Statutes

§54B‑156.  Loan expenses and fees.

(a)        Subject to theprovisions of N.C.G.S. Chapter 24, an association may require borrowers to payall reasonable expenses incurred by the association in connection with making,closing, disbursing, extending, adjusting or renewing loans. Such charges maybe collected by the association from the borrower and paid to any persons,including any director, officer or employee of the association who may renderservices in connection with the loan, or such charges may be paid directly bythe borrower.

(b)        An association mayrequire a borrower to pay a reasonable charge for late payments made during thecourse of repayment of a loan. Subject to the provisions of G.S. 24‑10.1,such payments may be levied only upon such terms and conditions as shall befixed by the association's board of directors and agreed to by the borrower inthe loan contract. (1981, c. 282, s. 3; 1989 (Reg. Sess., 1990), c. 806,s. 16.)