NC General Statutes

N.C. Gen. Stat. § 45-36.12 (2026)

Limitation of secured creditor's liability

✓ current as of July 2026

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A secured creditor is not liable under this Article if it:

(1) Established a reasonable procedure to achieve compliance with its obligations under this Article;

(2) Complied with that procedure in good faith; and

(3) Was unable to comply with its obligations because of circumstances beyond its control. (2005-123, s. 1.)

Notes of Decisions

Cited in 1 case, 2019–2019 · leading case: M&B Props. 3 Bushey Lane VT, LLC v. CWCapital Asset Mgmt. LLC (E.D.N.Y 2019).

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M&B Props. 3 Bushey Lane VT, LLC v. CWCapital Asset Mgmt. LLC (E.D.N.Y 2019). “Plaintiffs have adequately alleged that they paid the full 9 N.C. Gen. Stat. Ann. § 45-36.12 provides that “a secured creditor is not liable under this Article if it: (1) Established a reasonable procedure to achieve compliance with its obligations under this Article; (2)…”

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