§ 24-2.1. Transactions governed by Chapter.
§ 24‑2.1. Transactionsgoverned by Chapter.
(a) For purposes ofthis Chapter, any extension of credit shall be deemed to have been made in thisState, and therefore subject to the provisions of this Chapter if the lenderoffers or agrees in this State to lend to a borrower who is a resident of thisState, or if such borrower accepts or makes the offer in this State to borrow,regardless of the situs of the contract as specified therein.
(b) Any solicitation orcommunication to lend, oral or written, originating outside of this State, butforwarded to and received in this State by a borrower who is a resident of thisState, shall be deemed to be an offer or agreement to lend in this State.
(c) Any solicitation orcommunication to borrow, oral or written, originating within this State, from aborrower who is a resident of this State, but forwarded to, and received by alender outside of this State, shall be deemed to be an acceptance or offer toborrow in this State.
(d) Any oral or writtenoffer, acceptance, solicitation or communication to lend or borrow, made inthis State to, or received in this State from, a borrower who is not a residentof this State shall be subject to the provisions of this Chapter, applicablefederal law, law of the situs of the contract, or law of the residence of anysuch borrower as the parties may elect.
(e) Any person whoacquires a right by contract or by assignment to receive payments under a loanmade in this State to an individual or individuals who is a resident of thisState at the time of the loan and who benefits from the laws of this State byhaving the loan secured by real property located in this State is deemed tohave consented to the courts of this State having jurisdiction over such personfor any claim under this Chapter and for any claim related to the loaninstrument.
(f) The provisions ofthis section shall be severable and if any phrase, clause, sentence orprovision is declared to be invalid, the validity of the remainder of thissection shall not be affected thereby.
(g) It is the paramountpublic policy of North Carolina to protect North Carolina resident borrowersthrough the application of North Carolina interest laws. Any provision of thissection which acts to interfere in the attainment of that public policy shallbe of no effect. (1979,c. 706, s. 3; 1983, c. 126, s. 11; 2007‑351, s. 3.)