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N.C. Gen. Stat. § 24-2

Section 24-2 - Penalty for usury; corporate bonds may be sold below par
Section 24-2 - Penalty for usury; corporate bonds may be sold below par

2 Citing briefs

  1. Gilbert v. Deutsche Bank Trust Company Americas as trustee for Residential Accredit Loans, Inc. et al

    Memorandum in Support regarding 77 First MOTION to Dismiss Amended Complaint

    Filed October 2, 2015

    CONCLUSION Accordingly, Defendant Deutsche Bank respectfully requests that this Court dismiss with prejudice the Gilberts’ UDTPA claim for failing to make material disclosures and failing to rescind under TILA as well as the Gilberts’ claim for attempted wrongful foreclosure. Additionally, Deutsche Bank respectfully requests that this Court strike paragraph thirteen of the Gilberts’ Prayer for Relief in their First Amended Complaint, which requests “twice the amount of usurious interest pursuant to N.C. Gen. Stat. 24-2, et seq.” The Gilberts’ First Amended Complaint does not include a claim for usury. RESPECTFULLY SUBMITTED, this the 2nd day of October, 2015.

  2. DILLON v. BMO HARRIS BANK, N.A. et al

    MEMORANDUM

    Filed December 23, 2013

    The sole remedies recognized under North Carolina law are (i) forfeiture of the agreed-upon interest and (ii) recovery of double the interest actually paid. N.C. Gen. Stat. § 24-2. An action to recover interest paid is “an action in the nature of action for debt” and lies only against the lender.