§ 25A-9 – "Amount financed" defined.
25A-9. "Amount financed" defined. (a) "Amount financed" means the total of the following to the extent that payment is deferred by the seller: (1) The cash price of the goods or services less the amount of any down payment whether made in cash or property traded in, (2) The amount actually paid or to be […]
§ 25A-10 – "Official fees" defined.
25A-10. "Official fees" defined. "Official fees" means any of the following: (1) Fees and charges prescribed by law that actually are or will be paid by the seller for determining the existence of or for perfecting, releasing, or satisfying a security interest related to a consumer credit sale. (2) Premiums payable for insurance in lieu […]
§ 25A-11 – "Revolving charge account contract" defined.
25A-11. "Revolving charge account contract" defined. "Revolving charge account contract" means an agreement or understanding between a seller and a buyer under which consumer credit sales may be made from time to time, under the terms of which a finance charge or service charge is to be computed in relation to the buyer’s unpaid balance […]
§ 25A-12 – "Consumer credit installment sale contract" defined.
25A-12. "Consumer credit installment sale contract" defined. "Consumer credit installment sale contract" means the agreement between a buyer and a seller in a consumer credit sale other than a sale made pursuant to a revolving charge account. (1971, c. 796, s. 1.)
§ 25A-13 – "Consumer Credit Protection Act" defined.
25A-13. "Consumer Credit Protection Act" defined. "Consumer Credit Protection Act" means the Consumer Credit Protection Act, an act of Congress of May 29, 1968, as amended (Public Law 90-321; 82 Stat. 146; 15 U.S.C. 1601 et seq.), and regulations and rulings promulgated thereunder. (1971, c. 796, s. 1.)
§ 25A-14 – Finance charge rates and service charge for revolving charge account contracts.
25A-14. Finance charge rates and service charge for revolving charge account contracts. (a) The finance-charge rate and either the annual charge or the monthly service charge for a consumer credit sale made under a revolving charge account contract may not exceed the rates and charge provided for revolving credit by G.S. 24-11. (b) In the […]
§ 25A-15 – Finance charge rates for consumer credit installment sale contracts.
25A-15. Finance charge rates for consumer credit installment sale contracts. (a) With respect to a consumer credit installment sale contract, a seller may contract for and receive a finance charge not exceeding that permitted by this section. For the purposes of this section, the finance charge rates are the rates that are required to be […]
§ 25A-16 – Transfer of equity.
25A-16. Transfer of equity. If a buyer voluntarily transfers his rights in collateral pursuant to applicable law and the seller agrees, the seller may impose a transfer fee not to exceed ten percent (10%) of the unpaid balance of the debt or thirty-five dollars ($35.00), whichever is less. (1971, c. 796, s. 1; 2000-169, s. […]
§ 25A-17 – Additional charges for insurance.
25A-17. Additional charges for insurance. (a) As to revolving charge account contracts defined in G.S. 25A-11, in addition to the finance charges permitted in G.S. 24-11(a), a seller in a consumer credit sale may contract for and receive additional charges or premiums (i) for insurance written in connection with any consumer credit sale, against loss […]
§ 25A-2 – "Consumer credit sale" defined.
25A-2. "Consumer credit sale" defined. (a) Except as provided in subsection (c) of this section, a "consumer credit sale" is a sale of goods or services in which (1) The seller is one who in the ordinary course of business regularly extends or arranges for the extension of consumer credit, or offers to extend or […]