There is a newer version
of
this Section
2016 North Carolina General Statutes
Chapter 54B - Savings and Loan Associations.
Article 6 - Withdrawable Accounts.
§ 54B-131 - Right of setoff on withdrawable accounts.
Universal Citation: NC Gen Stat § 54B-131 (2016)
54B-131. Right of setoff on withdrawable accounts.
(a) Every association shall have a right of setoff, without further agreement or pledge, upon all withdrawable accounts owned by any member or customer to whom or upon whose behalf the association has made an unsecured advance of money by loan; and upon the default in the repayment or satisfaction thereof the association may cancel on its books all or any part of the withdrawable accounts owned by such member or customer, and apply the value of such accounts in payment on account of such obligation.
Disclaimer: These codes may not be the most recent version. North Carolina may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
