Enacts new GS 53-176.2 allowing consumer finance business licensees to make installment loans in amounts no less than $300 nor more than $1,500. Prohibits the terms of the loan from being less than 6 months nor more than 24 months. Prohibits making loans to a borrower who already has an outstanding loan with the licensee. Prohibits charging interest but allows imposing specified finance charges, including an investigation fee equal to 10% of the amount financed. Specifies fees that are allowed. Allows a borrower to rescind from a loan and recover fees paid to the lender without costs if done within the specified time frame. Specifies the notice that must be included in each loan agreement.

Effective July 1, 2015.