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the North Carolina General Statutes
2011 North Carolina General Statutes
Chapter 45A Good Funds Settlement Act.
45A-7. Penalty.
Universal Citation:
NC Gen Stat § 45A-7
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45A‑7. Penalty.
Any party violating this Chapter is liable to any other party suffering a loss due to that violation for that other party's actual damages plus reasonable attorneys' fees. In addition, any party violating this Chapter shall pay to the party or parties suffering a loss an amount equal to one thousand dollars ($1,000) or double the amount of interest payable on any loan for the first 60 days after the loan closing, whichever amount is greater. (1995 (Reg. Sess., 1996), c. 714, s. 1.)
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