North Carolina Administrative Code
Title 04 - COMMERCE
Chapter 03 - BANKING COMMISSION
Subchapter K - REVERSE MORTGAGES
Section .0400 - OPERATIONS, NOTIFICATIONS, AND REPORTING
Section 03K .0402 - RECORD AND BOOKKEEPING REQUIREMENTS
Universal Citation: 04 NC Admin Code 03K .0402
Current through Register Vol. 39, No. 6, September 16, 2024
(a) All NC SAFE Act authorized lenders shall maintain their books and records relating to the making of reverse mortgage loans for a period of three years after payment of the debt and make them available for inspection by the Commissioner.
(b) An NC SAFE Act authorized lender shall notify the Commissioner of any change in the location of its books and records.
Authority
G.S.
53-244.105;
53-259;
53-271(a);
Eff. January 1, 1995;
Readopted Eff. August 1,
2018.
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