4 N.C. Admin. Code 3K.0204

Current through Register Vol. 39, No. 12, December 1, 2024

Section 03K .0204 - ANNUAL RENEWAL FEE

(a) On or before December 31 of each year, each NC SAFE Act authorized lender shall pay the annual fee set forth in G.S. 53-258(d).

(b) Failure of an NC SAFE Act authorized lender to pay the annual fee as of the date specified in Paragraph (a) of this Rule shall be grounds for revocation of its authorization to make reverse mortgage loans.

04 N.C. Admin. Code 03K .0204

Authority G.S. 53-258(d); 53-259; 53-271;
Eff. January 1, 1995;
Readopted Eff. August 1, 2018.

Authority G.S. 53-258(d); 53-259; 53-271(a);
Eff. January 1, 1995.

Amended by North Carolina Register Volume 33, Issue 05, September 1, 2018 effective 8/1/2018.