Bill Summary for S 488 (2021-2022)

Printer-friendly: Click to view

Summary date: 

May 13 2021

Bill Information:

View NCGA Bill Details2021
Senate Bill 488 (Public) Filed Thursday, April 1, 2021
AN ACT TO ELIMINATE THE USE OF DISCLAIMERS ON SIMULATED CHECKS OR INVOICES.
Intro. by Rabon, Ford, Alexander.

View: All Summaries for BillTracking:

Bill summary

Senate amendment makes the following changes to the 1st edition.

Further amends GS 75-35, which prohibits a person engaged in commerce from issuing any writing that simulates or resembles a negotiable instrument or an invoice. Adds that the statute does not prohibit unsolicited checks to secure loans made by a lender under the terms and conditions prescribed in GS 75-20 (detailing requirements for delivering such unsolicited checks, violations of which are an unfair trade practice).