N.C. Gen. Stat. » Chapter 24
NC General Statutes

N.C. Gen. Stat. § 24-13 (2026)

Principal amount defined

✓ current as of July 2026
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The aggregate of the amount or value actually received at the time of the loan, plus the charges allowed by G.S. 24-14(b) (c) and (f); plus the sum of all existing indebtedness of the borrower paid on his behalf by the lender, shall be deemed the principal amount of the loan. (1971, c. 1229, s. 2; 1979, 2nd Sess., c. 1157, s. 4; 1985, c. 154, s. 3.)

 

Notes of Decisions
Cited in 1 case, 1979–1979 · leading case: Clemmer v. Liberty Fin. Plan., Inc., 467 F. Supp. 272 (W.D.N.C. 1979).
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Clemmer v. Liberty Fin. Plan., Inc., 467 F. Supp. 272 (W.D.N.C. 1979). · cites it 6× “” This “principal amount,” as defined in N.C.G.S. § 24-13, is the aggregate of the amount or value actually received at the time of the loan, plus a stated rate of charge, plus the sum of all existing indebtedness of the borrower paid on his behalf by the lender.”
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