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HAANEBRINK v. MEYER

No. 807SC19.

267 S.E.2d 598 (1980)

Leopold Herman HAANEBRINK and Jacqueline E. Corney Haanebrink v. Louis B. MEYER, Trustee, and the Lely Corporation of Delaware.

Court of Appeals of North Carolina.

July 15, 1980.

Attorney(s) appearing for the Case

Narron, Holdford, Babb, Harrison & Rhodes by William H. Holdford, Wilson, for plaintiffs-appellees.

Parker, Miles & Hinson by C. David Williams, Jr., Wilson, for defendant-appellant.

ROBERT M. MARTIN, Judge.

The issue presented by this appeal is when the two year statute of limitations on the forfeiture of all interest for usury begins to run.

G.S. 24-2 on the penalty for usury provides in pertinent part:

The taking, receiving, reserving or charging a greater rate of interest than permitted by this chapter or other applicable law, either before or after the interest may accrue, when knowingly done, shall be a forfeiture of the...

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