NORTH CAROLINA GENERAL ASSEMBLY
1979 SESSION

CHAPTER 1330
SENATE BILL 1069

AN ACT TO AMEND G.S. 25A-15, G.S. 24-11, G.S. 53-173 AND G.S. 53-176 TO INCREASE CREDIT AVAILABILITY IN VARIOUS CONSUMER TRANSACTIONS.

The General Assembly of North Carolina enacts:

Section 1.  G.S. 25A-15(b)(4) is amended to read as follows:
"Sixteen percent (16%) per annum where the amount financed is three thousand dollars ($3,000) or greater."
Sec. 2.  G.S. 25A-15(b)(5) is repealed.
Sec. 3.  G.S. 24-11(b) is amended in line six thereof by deleting the words "one and one-quarter" and inserting in lieu thereof the words "one and one-half"; and by deleting lines seven, eight and nine thereof and inserting in lieu thereof the figure "(1 1/2%)".
Sec. 4.  This act is effective upon ratification.
In the General Assembly read three times and ratified, this the 25th day of June, 1980.