§ 54B-165. Professional services. - North Carolina Statutes

§ 54B‑165.  Professionalservices.

(a)        A State associationor service corporation thereof must notify borrowers prior to the loancommitment of their right to select the attorney or law firm rendering legalservices in connection with the loan, and the person or organization renderinginsurance services in connection with the loan. Such persons or organizationsmust be approved by the association's board of directors, pursuant to suchrules and regulations as the Commissioner of Banks may prescribe.

(b)        A State associationor service corporation thereof may require borrowers to reimburse suchassociation for legal services rendered to it by its own attorney only when thefee is limited to legal services required by the making of such loan. (1981, c. 282, s. 3; 2001‑193,s. 16.)