04 NCAC 16E .0404. UNSECURED LOANS LIMIT

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The aggregate amount of unsecured loans outstanding which may be made by a savings bank to any one borrower shall not exceed five percent of its net worth; provided, that a savings bank may, in any event, make up to five thousand dollars ($5,000) in unsecured loans to any one borrower.

History Note: Filed as a Temporary Adoption Eff. October 2, 1991 for a period of 180 days to expire on

March 31, 1992;

Statutory Authority G.S. 54C‑53; 54C‑121;

Eff. February 15, 1992.

                    
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