N.C.G.S. § 22-5 — revision history

Text is never overwritten. Each amendment lands as a new version row with its own effective range.

1. Version 1 — 2026-08-08 to present

   Scraped from ncleg.gov; The General Statutes include changes through S.L. 2026-7.

   No commercial loan commitment by a bank, savings and loan association, or credit union for a loan in excess of fifty thousand dollars ($50,000) shall be binding unless the commitment is in writing and signed by the party to be bound.  As used in this section, the term "commercial loan commitment" means an offer, agreement, commitment, or contract to extend credit primarily for business or commercial purposes and does not include charge or credit card accounts, personal lines of credit, overdrafts, or any other consumer account.  Offers, agreements, commitments, or contracts to extend credit primarily for aquaculture, agricultural, or farming purposes are specifically exempted from the provisions of this section. (1989, c. 678.)