Bill Summary for S 529 (2019-2020)

Summary date: 

Apr 2 2019
S.L. 2019-77

Bill Information:

View NCGA Bill Details2019-2020 Session
Senate Bill 529 (Public) Filed Tuesday, April 2, 2019
AN ACT TO INCREASE THE MAXIMUM PROCESSING FEE FOR RETURNED CHECKS.
Intro. by Gunn, D. Davis.

View: All Summaries for BillTracking:

Bill summary

Identical to H 327, filed 3/11/19.

Amends GS 25-3-506, increasing the maximum processing fee for returned checks accepted in payment for goods or services from $25 to $35. Makes language gender-neutral and makes further technical and clarifying changes. Applies to checks dated on or after October 1, 2019.

Amends GS 53-176, increasing the maximum loan processing fee a licensee under the North Carolina Consumer Finance Act can assess, from $25 for loans up to $2,500 and 1% of the cash advance for loans above $2,500, not exceeding a total fee of $40, to $50 for loans up to $5,000 and 1% of the cash advance for loans above $5,000, with no maximum total fee amount specified. Applies to contracts entered into, renewed, or modified on or after October 1, 2019.

© 2021 School of Government The University of North Carolina at Chapel Hill

This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.

Printer-friendly: Click to view