As title indicates, amends GS 25A-34 (regarding balloon payments) to provide that the statute does not apply to motor vehicle loans exceeding $10,000. Effective October 1, 2012.
MOTOR VEHICLE LOAN BALLOON PAYMENTS.
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TO INCREASE REVENUE TO THE HIGHWAY TRUST FUND FROM THE HIGHWAY USE TAX BY STIMULATING THE SALE OF MOTOR VEHICLES BY ALLOWING BALLOON PAYMENTS ON MOTOR VEHICLE LOANS THAT EXCEED TEN THOUSAND DOLLARS.Intro. by Committee on Rules, Calendar, and Operations of the House.
Status: Ref To Com On Judiciary Subcommittee C (House Action) (May 30 2012)
Bill History:
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Tue, 29 May 2012 House: Reptd Fav. For Introduction
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Tue, 29 May 2012 House: Filed
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Wed, 30 May 2012 House: Passed 1st Reading
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Wed, 30 May 2012 House: Ref To Com On Judiciary Subcommittee C
H 1155
Bill Summaries:
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Bill H 1155 (2011-2012)Summary date: May 29 2012 - View Summary
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