GENERAL ASSEMBLY OF NORTH CAROLINA
1989 SESSION
CHAPTER 661
AN ACT CHANGING THE INTEREST PAYMENT METHOD ON PARTIAL LICENSE FEES.
The General Assembly of North Carolina enacts:
Section 1. G.S. 20-94 reads as rewritten:
"§ 20-94. Partial payments.
In the purchase of licenses, where the gross amount of the
license fee to any one owner amounts to more than four hundred dollars
($400.00), half of such payment may, if the Commissioner is satisfied of the
financial responsibility of such owner, be deferred until June 1 in any
calendar year upon the execution to the Commissioner of a draft upon any bank
or trust company upon forms to be provided by the Commissioner in an amount
equivalent to one half of such tax fee, plus a carrying charge of
eight percent (8%) three percent (3%) of the deferred portion of the
license fee: Provided, that any person using any tag so purchased
after the first day of June in any such year without having first provided for
the payment of such draft, shall be guilty of a misdemeanor. No further license
plates shall be issued to any person executing such a draft after the due date
of any such draft so long as such draft or any portion thereof remains unpaid.
Any such draft being dishonored and not paid shall be subject to the penalties
prescribed in G.S. 20-178 and shall be immediately turned over by the
Commissioner to his duly authorized agents and/or the State Highway Patrol, to
the end that this provision may be enforced. When the owner of the vehicles for
which a draft has been given sells or transfers ownership to all vehicles
covered by the draft, such draft shall become payable immediately, and such
vehicles shall not be transferred by the Division until the draft has been
paid. Any one owner whose gross license fee amounts to more than two
hundred dollars ($200.00) but not more than four hundred dollars ($400.00) may
also be permitted to sign a draft in accordance with the foregoing provisions
of this section provided such owner makes application for the draft on or
before February 1 during the license renewal period."
Sec. 2. This act is effective upon ratification and applies to fees deferred on or after that date.
In the General Assembly read three times and ratified this the 20th day of July, 1989.