North Carolina Administrative Code Title 17 — Revenue

17 NCAC 04B .3301 — Real Estate Loans: Loaning Own Funds

A person who, as agent, engages in the business of negotiating real estate loans using funds belonging to his loan correspondents is subject to real estate license tax under G.S. 105-41. A person making real estate loans in his own name with his own funds and selling those loans to insurance companies and other loan investment companies is subject to loan agency license under G.S. 105-88 unless meeting the exemption under subsection (b) of that section. A person engaging in both activities is subject to both licenses. 17 NCAC 04B .3302 REAL ESTATE LOANS: PERSONAL PROPERTY COLLATERAL A person who negotiates real estate loans for others and also includes as part of the collateral mortgages on automobiles or other personal property is subject to loan agency license under G.S. 105-88 and real estate license under G.S. 105-41. SECTION .3400 - AUTOMOBILE: WHOLESALE SUPPLY DEALERS: AND SERVICE STATIONS

Last amended: Authority G.S. 105-88; 105-41; 105-262; Eff. February 1, 1976; Amended Eff. January 1, 1994; Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 22, 2018. History Note: Authority G.S. 105-88; 105-41; 105-262; Eff. February 1, 1976; Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. December 22, 2018.

Source: official text