Section 45-67 - DefinitionsThe following definitions apply in this Article:
(1) Advance. - A disbursement of funds or other action that increases the outstanding principal balance owing on an obligation for the payment of money.(2) Security instrument. - A mortgage, deed of trust, or other instrument relating to real property securing an obligation or obligations to a person, firm, or corporation specifically named in such instrument for the payment of money.Amended by 2009 N.C. Sess. Laws 197,s. 1, eff. 10/1/2009. 1969, c. 736, s. 1; 1989, c. 496, s. 1.