§ 66-109. Filing with Secretary of State. - North Carolina Statutes

§66‑109.  Filing with Secretary of State.

(a)        Prior to placingany advertisement or making any other representations to prospective borrowersin this State, every loan broker shall file with the Secretary of State twocopies of the disclosure statement required by G.S. 66‑107, and either acopy of the bond required by G.S. 66‑108, or a copy of the formalnotification by the depository that the trust account required by G.S. 66‑108is established.  These filings shall be updated as any material changes in therequired information or the status of the bond or trust account occur, but noless than annually.

(b)        Failure to complywith subsection (a) shall be a Class 1 misdemeanor. (1979, c. 705, s. 1; 1981, c.785, s. 2; 1993, c. 539, s. 523; 1994, Ex. Sess., c. 24, s. 14(c).)