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.)
Sections: Previous 45-36.6 45-36.7 45-36.7A 45-36.8 45-36.9 45-36.10 45-36.11 45-36.12 45-36.13 45-36.14 45-36.15 45-36.16 45-36.17 45-36.18 45-36.19 Next
Last modified: March 23, 2014