North Carolina Statutes

Chapter 122A North Carolina Housing Finance Agency

  • § 122A-1   Short title
    This Chapter shall be known and may be cited as the "North Carolina Housing Finance Agency Act." (1969, c. 1235, s. 1; 1973, c. 1296,...
  • § 122A-2   Legislative findings and purposes
    The General Assembly hereby finds and declares that as a result of the spread of slum conditions and blight to formerly sound urban and rural...
  • § 122A-3   Definitions
    The following words and terms, unless the context clearly indicates a different meaning, shall have the following respective meanings: (1) "Bonds" or "notes" mean the...
  • § 122A-4   North Carolina Housing Finance Agency
    (a) There is hereby created a body politic and corporate to be known as "North Carolina Housing Finance Agency" which shall be constituted a public...
  • § 122A-5   General powers
    The Agency shall have all of the powers necessary or convenient to carry out and effectuate the purposes and provisions of this Chapter, including, but...
  • § 122A-5.1   Rules and regulations governing Agency activity
    (a) The Agency shall from time to time adopt, modify or repeal rules and regulations governing the purchase of federally insured securities by the Agency...
  • § 122A-5.2   Mortgage insurance authority
    (a) The Agency may upon application of a proposed mortgagee insure and make advance commitments to insure payments required by a loan for residential housing...
  • § 122A-5.3   Energy conservation loan authority
    (a) The Agency may guarantee the payment or collection of energy conservation loans pursuant to and in accordance with the provisions of this Chapter when...
  • § 122A-5.4   Housing for persons and families of moderate income
    (a) The General Assembly hereby finds and determines that there is a serious shortage of decent, safe and sanitary housing which persons and families of...
  • § 122A-5.5   Rehabilitation Loan Authority
    (a) In order to effectuate the authority of the Agency to participate in commitments to purchase and to purchase mortgage loans for the rehabilitation of...
  • § 122A-5.6   Terms and conditions of loans to and by mortgage lenders
    (a) The Agency shall from time to time adopt, modify, amend or repeal rules and regulations governing the making of loans to mortgage lenders and...
  • § 122A-5.7   Homeownership Assistance Fund authorized; authority
    The North Carolina Housing Finance Agency is authorized to establish a Homeownership Assistance Fund (hereinafter referred to as "the Fund") to assist families of low...
  • § 122A-5.8   Distressed multi-family residential rental housing provisions
    (a) The General Assembly hereby finds and determines that a serious shortage of decent, safe and sanitary multi‑family residential rental housing which persons and families...
  • § 122A-5.9   Formation of subsidiary corporations to own and operate housing projects
    (a) The Agency may acquire, by purchase or otherwise, construct, acquire, develop, own, repair, maintain, improve, rehabilitate, renovate, furnish, equip, operate, and manage residential rental...
  • § 122A-5.10   Housing Coordination and Policy Council; creation; duties
    (a) There is created the Housing Coordination and Policy Council in the Office of the Governor. The Housing Coordination and Policy Council shall have the...
  • § 122A-5.11   Council membership; compensation; procedures
    (a) The Housing Coordination and Policy Council shall consist of 15 representatives, as follows: (1) One member of the N.C. Housing Partnership who is experienced...
  • § 122A-5.12   Council meetings; report
    (a) The Housing Coordination and Policy Council shall meet at least quarterly and may hold special meetings at any time and place within the State...
  • § 122A-5.13   Adult Care Home, Group Home, and Nursing Home Fire Protection Fund authorized; authority
    (a) The North Carolina Housing Finance Agency shall establish an Adult Care Home, Group Home, and Nursing Home Fire Protection Fund (hereinafter "Fire Protection Fund")...
  • § 122A-6   Credit of State not pledged
    Obligations issued under the provisions of this Chapter shall not be deemed to constitute a debt, liability or obligation of the State or of any...
  • § 122A-6.1   Credit of State not pledged to satisfy liabilities under energy conservation loan guarantees
    Energy conservation loan guarantees issued under the provisions of this Chapter shall not be deemed to constitute a debt, liability, obligation of the State or...
  • § 122A-7   Repealed by Session Laws 1973, c. 1296, s. 47
  • § 122A-8   Bonds and notes
    The Agency is hereby authorized to provide for the issuance, at one time or from time to time, of bonds and notes of the Agency...
  • § 122A-8.1   Powers of the State Treasurer
    Notwithstanding any other provisions of this act, the State Treasurer shall have the exclusive power to issue bonds and notes authorized under the act upon...
  • § 122A-9   Trust agreement or resolution
    In the discretion of the Agency any obligations issued under the provisions of this Chapter may be secured by a trust agreement by and between...
  • § 122A-10   Validity of any pledge
    The pledge of any assets or revenues of the Agency to the payment of the principal of or the interest on any obligations of the...
  • § 122A-11   Trust funds
    Notwithstanding any other provisions of law to the contrary, all moneys received pursuant to the authority of this Chapter shall be deemed to be trust...
  • § 122A-12   Remedies
    Any holder of obligations issued under the provisions of this Chapter or any coupons appertaining thereto, and the trustee under any trust agreement or resolution...
  • § 122A-13   Negotiable instruments
    Notwithstanding any of the foregoing provisions of this Chapter or any recitals in any obligations issued under the provisions of this Chapter, all such obligations...
  • § 122A-14   Obligations eligible for investment
    Obligations issued under the provisions of this Chapter are hereby made securities in which all public officers and public bodies of the State and its...
  • § 122A-15   Refunding obligations
    The Agency is hereby authorized to provide for the issuance of refunding obligations for the purpose of refunding any obligations then outstanding which shall have...
  • § 122A-16   Oversight by committees of General Assembly; annual reports
    The Finance Committee of the House of Representatives and the Finance Committee of the Senate shall exercise continuing oversight of the Agency in order to...
  • § 122A-17   Officers not liable
    No member or other officer of the Agency shall be subject to any personal liability or accountability by reason of his execution of any obligations...
  • § 122A-18   Authorization to accept appropriated moneys
    The Agency is authorized to accept such moneys as may be appropriated from time to time by the General Assembly for effectuating its corporate purposes...
  • § 122A-19   Tax exemption
    The exercise of the powers granted by this Chapter will be in all respects for the benefit of the people of the State, for their...
  • § 122A-20   Conflict of interest
    If any member, officer or employee of the Agency shall be interested either directly or indirectly, or shall be an officer or employee of or...
  • § 122A-21   Additional method
    The foregoing sections of this Chapter shall be deemed to provide an additional and alternative method for the doing of the things authorized thereby and...
  • § 122A-22   Chapter liberally construed
    This Chapter, being necessary for the prosperity of the State and its inhabitants, shall be liberally construed to effect the purposes thereof. (1969, c. 1235,...
  • § 122A-23   Inconsistent laws inapplicable
    Insofar as the provisions of this Chapter are inconsistent with the provisions of any general or special laws, or parts thereof, the provisions of this...