§ 54B-162. Power to borrow money. - North Carolina Statutes

§54B‑162.  Power to borrow money.

An association, in itscertificate of incorporation or in its bylaws, may authorize the board ofdirectors to borrow money and the board of directors may by resolution adoptedby a vote of at least two thirds of the entire board duly recorded in theminutes may authorize the officers of the association to borrow money for theassociation on such terms and conditions as it may deem proper. (1981,c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 17.)