§ 54C-125. Loan expenses and fees. - North Carolina Statutes

§54C‑125.  Loan expenses and fees.

(a)        Subject to Chapter24 of the General Statutes, a savings bank may require borrowers to pay allreasonable expenses incurred by the savings bank in connection with making,closing, disbursing, extending, adjusting, or renewing loans.  The charges maybe collected by the savings bank from the borrower and paid to any persons,including any director, officer, or employee of the savings bank who may renderservices in connection with the loan, or the charges may be paid directly bythe borrower.

(b)        A savings bank mayrequire a borrower to pay a reasonable charge for late payments made during thecourse of repayment of a loan.  Subject to G.S. 24‑10.1, the payments maybe levied only upon the terms and conditions that are fixed by the savingsbank's board of directors and agreed to by the borrower in the loan contract.

(c)        Nothing in thisArticle shall be construed to modify Chapter 24 of the General Statutes, orother applicable law, or to allow fees, charges, or interest beyond thatpermitted by Chapter 24 of the General Statutes or other applicable law. (1991,c. 680, s. 1.)