AN ACT TO MODERNIZE NORTH CAROLINA'S CONSUMER CREDIT INSTALLMENT SALE CONTRACT DEFAULT CHARGE IN ORDER TO LEVEL THE PLAYING FIELD WITH OUT-OF-STATE BUSINESSES.
Senate committee substitute makes the following changes to the 1st edition.
Amends GS 25A-29 to provide that if any installment is past due for 10 days or more according to the original terms of the consumer credit installment sale contract, a default charge can be made in an amount not to exceed $25 (was, $15).
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