2009 North Carolina Code
Chapter 113 - Conservation and Development.
§ 113-73. Corporation may not sell or convey without consent of Secretary, or pay higher interest rate than 6%.
§ 113‑73. Corporation may not sell or convey without consent of Secretary, or pay higher interest rate than 6%.
No such corporation shall:
(1) Sell, assign or convey any real property owned by it or any right, title or interest therein, except upon notice to the Secretary of the terms of such sale, transfer or assignment, and unless the Secretary shall consent thereto, and if the Secretary shall require it, unless the purchaser thereof shall agree that such real estate shall remain subject to the rules and supervision of the Secretary for such period as the latter may require;
(2) Pay interest returns on its mortgage indebtedness at a higher rate than six per centum (6%) per annum without the consent of the Secretary;
(3) Mortgage any real property without first having obtained the consent of the Secretary. (1933, c. 178, s. 13; 1973, c. 1262, s. 86; 1977, c. 771, s. 4; 1989, c. 727, s. 90.)
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