It is well known that non-rotating neutron stars cannot grow without bound, since an increase in mass causes a proportional increase in density, and accretion beyond a critical limit would cause it to collapse to a black hole.
However, it seems that a rotating neutron star could support a supercritical mass, since the additional centrifugal force of rotation would balance its gravitational force. Of course, the star could not be arbitrarily massive since an increase in mass must be accompanied by an increase in rotation, and there is a limit to how fast a star can rotate before breaking apart.
Regardless, we know that neutron stars can rotate as fast as 716 revolutions per second, and that many have extremely strong magnetic fields produced by magnethohydrodynamic dynamos, fields which can persist due to currents in the proton-superconductor phase of matter that exist at intermediate depths within the neutron star.
Therefore, I wonder if it possible that neutron stars could, in effect, lose energy and angular momentum through the production of magnetic fields associated with rotation, and thus slow until centrifugal forces diminish enough that the star collapses to a black hole?
If this is theoretically possible, what might the signature for such an event be? On what timescale would it occur? How common could it be?