reglab/statecodes huggingface dataset:
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-396 - Penalties.

§ 66-396. Penalties.
(a) Every person, firm, or corporation, their guests or employees, who shall knowingly violate any of the provisions of this Part, shall, on conviction thereof, be deemed guilty of a Class 2 misdemeanor. If the violation is by an owner or major stockholder or managing partner of the pawnshop and the violation is knowingly committed by the owner, major stockholder, or managing partner of the pawnshop, then the license of the pawnshop may be suspended at the discretion of the court.
(b) The provision of subsection (a) of this section shall not apply to violations of G.S. 66-395(a)(6) or G.S. 66-395(b) which shall be prosecuted under the North Carolina criminal statutes.
(c) Any contract of pawn the making or collecting of which violates any provision of this Part, except as a result of accidental or bona fide error of computation, shall be void, and the licensee shall have no right to collect, receive or retain any interest or fee whatsoever with respect to such pawn. (1989, c. 638, s. 2; 1993, c. 539, s. 655; 1994, Ex. Sess., c. 24, s. 14(c); 2011-325, s. 8; 2012-46, ss. 2, 11.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-397 - Municipal or county authority.

§ 66-397. Municipal or county authority.
All of the counties and cities as defined by G.S. 160A-1 may by ordinance adopt the provisions of this Part and may adopt such further rules and regulations as the governing bodies of the counties and cities deem appropriate; provided, however, no county or city may regulate:
(1) Interest, fees, or recovery charges;
(2) Hours of operation, unless such regulation applies to businesses generally;
(3) The nature of the business or type of pawn transaction; or
(4) License fees in excess of rates set by the State. (1989, c. 638, s. 2; 1993, c. 539, s. 655; 1994, Ex. Sess., c. 24, s. 14(c); 2011-325, s. 8; 2012-46, ss. 2, 12.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-398 - License renewal.

§ 66-398. License renewal.
Notwithstanding any provision of this Part to the contrary, any person, firm, or corporation licensed as a pawnbroker on or before October 1, 1989, shall continue in force until the natural expiration thereof and all other provisions of this Part shall apply to such license. Such pawnbroker shall be eligible for renewal of his license upon its expiration or subsequent renewals, provided such license complies with the requirements for renewal that were in effect immediately prior to October 1, 1989. (1989, c. 638, s. 2; 2012-46, ss. 2, 13.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-399 - Bond.

§ 66-399. Bond.
Every person, firm, or corporation licensed under this Part shall, at the time of receiving the license, file with the city or county issuing the license a bond payable to such city or county in the sum of five thousand dollars ($5,000), to be executed by the licensee, and by two responsible sureties or a surety company licensed to do such business in this State, to be approved by the city or county, which shall be for the faithful performance of the requirements and obligations pertaining to the business so licensed. The city or county may sue for forfeiture of the bond upon a breach thereof. Any person who obtains a judgment against a pawnbroker and upon which judgment execution is returned unsatisfied may maintain an action in his own name upon the bond, to satisfy the judgment. (1989, c. 638, s. 2; 2012-46, ss. 2, 14.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-405 - Legislative finding.

§ 66-405. Legislative finding.
The General Assembly finds and declares that precious metal businesses in North Carolina vitally affect the general economy of the State and the public interest and public welfare, and in the exercise of its police power, it is necessary to regulate such businesses, in order to prevent thefts, disposal of stolen property, and other abuses upon its citizens. (1981, c. 956, s. 1; 2012-46, s. 15.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-406 - Definitions.

§ 66-406. Definitions.
The following definitions apply in this Part:
(1) Dealer. — A person who purchases precious metals from the public, other than by an exempted transaction, in the form of jewelry, flatware, silver services, or other forms and holds himself or herself out to the public by signs, advertising, or other methods as engaging in such purchases, including any independent contractor purchasing precious metals under any arrangement in any department store. An exempted transaction is one that is (i) not considered in determining whether a person is a dealer under this Part and (ii) not subject to the requirements of this Part, even if it is entered into by a person otherwise defined and regulated as a dealer. Exempted transactions are:
a. Purchases directly from manufacturers or wholesalers of precious metals by permanently located retail merchants for their inventories.
b. Pawns, pledges, or purchases of items made of precious metals, if the transaction is entered into by a licensed pawnbroker and the transaction is regulated under the provisions of Part 1 of this Article.
c. The acquisition of precious metals by a permanently located retail merchant through barter or exchange for other items sold in the ordinary course of the merchant's business, provided that the seller does not receive, as part of the transaction, any sum of money or any gift card or stored-value card, unless the card is redeemable only at that merchant's business.
(2) Local law enforcement agency. — The term means the following, as applicable:
a. The county police force, if the dealer's business is located within a county with a county police force and outside the corporate limits of a municipality.
b. The municipal police force, if the dealer's business is located within the corporate limits of a municipality having a police force.
c. The county sheriff's office of the county in which the dealer's business is located, if neither sub-subdivision a. nor b. of this subdivision applies.
(3) Precious metal. — Gold, silver, platinum, or palladium, as defined below, but excluding coins, medals, medallions, tokens, numismatic items, art ingots, or art bars.
a. Gold. — Any item or article containing 10 karats of gold or more which may be in combination or alloy with any other metal.
b. Silver. — Any item or article containing 925 parts per thousand of silver which may be in combination or alloy with any nonprecious metal or which is marked "sterling".
c. Platinum. — Any item or article containing 900 parts per thousand or more of platinum which may be in combination or alloy with any other metal.
d. Palladium. — Any item or article containing 950 parts per thousand or more of palladium which may be in combination or alloy with any other metal. (1981, c. 956, s. 1; c. 1001, s. 3; 1989 (Reg. Sess., 1990), c. 1024, s. 10(b); 2009-482, s. 1; 2012-46, ss. 15, 17.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-408 - Perjury; punishment.

§ 66-408. Perjury; punishment.
Any person who shall willfully commit perjury in any application for a permit or exemption filed pursuant to this Part shall be guilty of a Class 2 misdemeanor. (1981, c. 956, s. 1; 1993, c. 539, s. 525; 1994, Ex. Sess., c. 24, s. 14(c); 2012-46, ss. 15, 19.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-409 - Bond or trust account required.

§ 66-409. Bond or trust account required.
Before any permit shall be issued to a dealer pursuant to G.S. 66-407, the dealer shall execute a satisfactory cash or surety bond or establish a trust account with a licensed and insured bank or savings institution located in the State of North Carolina in the sum of ten thousand dollars ($10,000). The bond or trust account shall be in favor of the State of North Carolina. A surety bond is to be executed by the dealer and by two responsible sureties or a surety company licensed to do business in the State of North Carolina and shall be on a form approved by the Department of Public Safety. Any bond shall be kept in full force and effect and shall be delivered to the law-enforcement agency which first issued a current permit to the dealer. A bond or trust account shall be for the faithful performance of the requirements and obligations of the dealer's business in conformity with this Part. Any law-enforcement agency shall have full power and authority to revoke the permit and sue for forfeiture of the bond or trust account upon a breach thereof. Any person who shall have suffered any loss or damage by any act of the permittee that constitutes a violation of this Part shall have the right to institute an action to recover against such permittee and the surety or trust account. Upon termination of the bond or trust account the permit shall become void. (1981, c. 956, s. 1; c. 1001, s. 4; 2011-145, s. 19.1(g); 2012-46, ss. 15, 20.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-411 - Items not to be modified.

§ 66-411. Items not to be modified.
No item included in a dealer purchase shall be sold, traded or otherwise disposed of, melted, cut or otherwise changed in form nor shall any item be removed from the licensed premises, or other location specified on the application for a special occasion permit, for a period of seven days from the date the transaction was reported in accordance with G.S. 66-410. (1981, c. 956, s. 1; 2009-482, s. 5; 2012-46, ss. 15, 22.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-412 - Purchasing from juvenile.

§ 66-412. Purchasing from juvenile.
No dealer or employee or agent thereof shall purchase from any juvenile under 18 years of age any article made, in whole or in part, of precious metal. (1981, c. 956, s. 1; 2012-46, s. 15.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-413 - Penalties.

§ 66-413. Penalties.
Any dealer who violates the provisions of this Part shall be deemed guilty of a Class 2 misdemeanor. In addition any dealer so convicted shall be ineligible for a dealer's permit for a period of three years from the date of conviction. Each and every violation shall constitute a separate and distinct offense. (1981, c. 956, s. 1; 1993, c. 539, s. 527; 1994, Ex. Sess., c. 24, s. 14(c); 2012-46, ss. 15, 23.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-414 - Portable smelters prohibited.

§ 66-414. Portable smelters prohibited.
It shall be unlawful for any person to possess or operate a smelter in any mobile home, trailer, camper, or other vehicle or structure not permanently affixed to the ground, for the purpose of refining precious metals. Violation of the provisions of this section shall constitute a Class 2 misdemeanor. (1981, c. 956, s. 1; 1993, c. 539, s. 528; 1994, Ex. Sess., c. 24, s. 14(c); 2012-46, s. 15.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-420 - Definitions.

§ 66-420. Definitions.
The following definitions apply in this Part:
(1) Cash card system. – A system of payment that provides payment in cash or in a form other than cash and that when providing payment in the form of cash (i) captures a photograph of the seller at the time payment is received and (ii) uses an automated cash dispenser, including, but not limited to, an automated teller machine.
(1a) Copper. – Nonferrous metals, including, but not limited to, copper wire, copper clad steel wire, copper pipe, copper bars, copper sheeting, copper tubing and pipe fittings, and insulated copper wire. The term shall not include brass alloys, bronze alloys, lead, nickel, zinc, or items not containing a significant quantity of copper.
(2) Fixed site. – A site occupied by a secondary metals recycler as the owner of the site or as a lessee of the site under a lease or other rental agreement providing for occupation of the site by a nonferrous metals purchaser for a total duration of not less than 364 days.
(3) Law enforcement officer. – Any duly constituted law enforcement officer of the State or of any municipality or county.
(4) Nonferrous metals. – Metals not containing significant quantities of iron or steel, including, but not limited to, copper, aluminum other than aluminum cans, a product that is a mixture of aluminum and copper, catalytic converters, lead-acid batteries, and stainless steel beer kegs or containers. The term shall not include precious metals as defined and regulated in Part 2 of this Article.
(5) Nonferrous metals purchaser. – A secondary metals recycler who purchases, gathers, or obtains nonferrous metals.
(6) Permit. – A permit issued pursuant to G.S. 66-426(a).
(7) Regulated metals property. – All ferrous and nonferrous metals.
(8) Secondary metals recycler. – Any person, firm, or corporation in the State:
a. That is engaged in the business of gathering or obtaining ferrous or nonferrous metals that have served their original economic purpose or is in the business of performing the manufacturing process by which ferrous metals or nonferrous metals are converted into raw material products consisting of prepared grades and having an existing or potential economic value; or
b. That has facilities for performing the manufacturing process by which ferrous metals or nonferrous metals are converted into raw material products consisting of prepared grades and having an existing or potential economic value, by methods including, but not limited to, the processing, sorting, cutting, classifying, cleaning, baling, wrapping, shredding, shearing, or changing the physical form or chemical content of the metals, but not including the exclusive use of hand tools. (2012-46, s. 28; 2013-169, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-420.1 - Applicability.

§ 66-420.1. Applicability.
This Chapter shall not apply to a salvage yard regulated pursuant to Chapter 20 of the General Statutes, unless the salvage yard is engaged in the business of gathering or obtaining ferrous or nonferrous metals that have served their original economic purpose and is in the business of performing the manufacturing process by which ferrous metals or nonferrous metals are converted into raw material products consisting of prepared grades and having an existing or potential economic value. (2013-410, s. 30.5.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-422 - Inspection of regulated metals property and records.

§ 66-422. Inspection of regulated metals property and records.
(a) Retention of Records. — A secondary metals recycler shall keep and maintain the information required under G.S. 66-421(b) for not less than two years from the date of the purchase of the regulated metals property. Records shall be securely maintained at all times and shall be destroyed in a manner that protects the identity of the owner of the property, the seller of the property, and the purchaser of the property.
(b) Inspection of Regulated Metals Property and Records. — During the usual and customary business hours of a secondary metals recycler, a law enforcement officer shall have the right to inspect all of the following:
(1) Any and all purchased regulated metals property in the possession of the secondary metals recycler.
(2) Any and all records required to be maintained under G.S. 66-421(b).
(c) Making Receipts Available for Inspection by Law Enforcement. — A secondary metals recycler shall make receipts for the purchase of regulated metals property available for pickup each regular workday if requested by the sheriff or chief of police of the county or the chief of police of the municipality in which the secondary metals recycler is located. The sheriff or the chief of police may request these receipts to be electronically transferred directly to the law enforcement agency. Records retained by a law enforcement agency shall be securely retained as required by law and destroyed in a manner that protects the identity of the owner of the property, the seller of the property, and the purchaser of the property.
(d) Records Are Not Public. — Records submitted to any public law enforcement agency pursuant to this section are records of criminal investigations or records of criminal intelligence information as defined in G.S. 132-1.4 and are not public records as defined by G.S. 132-1. (2012-46, s. 28.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-423 - Hold notices for nonferrous metals; retention of nonferrous metals.

§ 66-423. Hold notices for nonferrous metals; retention of nonferrous metals.
(a) Hold Notices. — When a law enforcement officer has reasonable suspicion to believe that any item of nonferrous metal in the possession of a nonferrous metals purchaser has been stolen, the law enforcement officer may issue a hold notice to the nonferrous metals purchaser. The hold notice must be in writing, be delivered to the nonferrous metals purchaser, specifically identify those items of nonferrous metal that are believed to have been stolen and that are subject to the notice, and inform the nonferrous metals purchaser of the information contained in this section. Upon receipt of the notice, the nonferrous metals purchaser must not process or remove the items of nonferrous metal identified in the notice, or any portion thereof, from the secondary metal recycler's fixed site for 15 calendar days after receipt of the notice unless released prior to the 15-day period by the law enforcement officer. A hold notice may be renewed for an additional 30 days by the law enforcement officer. A renewal must satisfy the same requirements as an initial hold notice in order to be valid.
(b) Retention of Nonferrous Metals. — Any secondary metals recycler owner convicted of a felonious violation of this Article, G.S. 14-71, 14-71.1, or 14-72 shall hold and retain nonferrous metals for seven days from the date of purchase before selling, dismantling, crushing, defacing, or in any manner altering or disposing of the regulated metals property. (2012-46, s. 28.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-425 - Permissible payment methods for nonferrous metals purchasers.

§ 66-425. Permissible payment methods for nonferrous metals purchasers.
Limitation on Cash Purchases. No nonferrous metals purchaser shall enter into a cash transaction for the purchase of copper, and no nonferrous metals purchaser shall purchase any nonferrous metal property for any cash consideration greater than one hundred dollars ($100.00) per transaction. Any payment in excess of one hundred dollars ($100.00) per transaction shall be made by check, money order or cash card system. A nonferrous metals purchaser shall not make more than one cash purchase per day from any individual, business, corporation or partnership. (2012-46, s. 28.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-426 - Issuance of nonferrous metals purchase permits by Sheriff; form; fees; recordkeeping.

§ 66-426. Issuance of nonferrous metals purchase permits by Sheriff; form; fees; recordkeeping.
(a) Issuance of Permits. — The sheriff of each county shall issue a nonferrous metals purchase permit to an applicant if the applicant (i) has a fixed site in the sheriff's county; (ii) declares on a form provided by the sheriff that the applicant is informed of and will comply with the provisions of this Part; (iii) does not have a permit that has been revoked pursuant to G.S. 66-429(b) at the time of the application; and (iv) has not been convicted of more than three violations of this Part. A permit shall be valid for 12 months and shall be valid only for fixed sites in the county of issuance. A permit shall be obtained for each fixed site at which nonferrous metals are purchased.
(b) Form. — The Attorney General shall prescribe a standard application form and a standard permit form to be used by sheriffs. The permit form shall contain, at a minimum, the date of issuance and the name and address of the permit holder.
(c) Fees; Record-Keeping Requirements. — The sheriff shall not charge a fee for a permit, and shall retain a copy of any permit issued. (2012-46, s. 28; 2012-194, s. 46(a).)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-427 - Exemptions.

§ 66-427. Exemptions.
This Part does not apply to:
(1) Purchases of regulated metals property from a manufacturing, industrial, government, or other commercial vendor that generates or sells regulated metals property in the ordinary course of its business.
(2) Purchases of regulated metals property that involve only beverage containers, except that G.S. 66-423 shall apply in that case. (2012-46, s. 28.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-428 - Preemption.

§ 66-428. Preemption.
A county or municipality shall not enact any local law, ordinance, or regulation regulating secondary metals recyclers or regulated metals property that conflicts with this Part, and this Part preempts all existing laws, ordinances, or regulations that conflict with it. (2012-46, s. 28.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-429 - Violations.

§ 66-429. Violations.
(a) Punishment Generally. – Unless the conduct is covered by some other provision of law providing greater punishment, any person knowingly and willfully violating any of the provisions of this Part shall be guilty of a Class 1 misdemeanor for a first offense. A second or subsequent violation of this Part is a Class I felony. In addition to any other punishment imposed for a violation of this Part, any person knowingly and willfully violating any of the provisions of this Part involving the purchase of a catalytic converter shall be punished by a fine of one thousand dollars ($1,000) for each violation.
(b) Revocation of Permits. – If the owner or the employees of a fixed site are convicted of an aggregate of three or more violations of this Part within a 10 year period, the permit associated with that fixed site shall be immediately revoked by the sheriff for a period of six months. Any attempt to circumvent this subsection by procuring a permit through a family member shall result in extension of the revocation period for an additional 18 months. (2012-46, s. 28; 2021-154, s. 3.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 45 - Pawnbrokers, Metal Dealers, and Scrap Dealers. › § 66-430 - Restitution.

§ 66-430. Restitution.
The court may order a defendant to make restitution to the secondary metals recycler or property owner, as appropriate, for any damage or loss caused by the defendant and arising out of a violation of G.S. 14-71, G.S. 14-71.1, G.S. 14-72, G.S.14-159.4, G.S. 66-424(a)(3), G.S. 66-424(a)(3a), or G.S. 66-424(a)(4) committed by the defendant. (2012-46, s. 28; 2021-154, s. 5.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 46 - Guaranteed Asset Protection Waivers. › § 66-440 - Definitions.

§ 66-440. Definitions.
The following definitions apply in this Article:
(1) Administrator. – A person that performs administrative or operational functions with respect to guaranteed asset protection waivers.
(2) Borrower. – A debtor, retail buyer, or lessee under a vehicle finance agreement.
(3) Creditor. – Any of the following:
a. A lender in a loan or credit transaction.
b. A lessor in a lease transaction.
c. A vehicle dealer, including a motor vehicle dealer as that term is defined in G.S. 20-286(11), that provides credit to or arranges financing for a purchaser of a vehicle.
d. A seller in a commercial retail installment transaction.
e. An assignee of any of the foregoing to whom the credit obligation is payable.
(4) Free-look period. – The period of time from the effective date of a guaranteed asset protection waiver until the date the borrower may cancel the contract without penalty, fees, or costs to the borrower.
(5) Guaranteed asset protection waiver. – Either of the following:
a. A contractual agreement in which a creditor agrees, with or without a separate charge, to cancel or waive all or part of amounts due on a borrower's vehicle finance agreement in the event of a total physical damage loss or unrecovered theft of the vehicle, which agreement shall be part of, or a separate addendum to, the vehicle finance agreement. The agreement may also provide, with or without a separate charge, a benefit that waives an amount or provides a borrower with a credit towards the purchase of a replacement vehicle.
b. A contractual agreement in which a creditor agrees, with or without a separate charge, to cancel or waive all or part of amounts that may become due under a borrower's lease agreement as a result of excessive wear and use of a vehicle. The agreement must be part of, or a separate addendum to, the lease agreement. Excess wear and use waivers may also cancel or waive amounts due for excess mileage.
The term does not include a vehicle value protection agreement as defined in G.S. 66-471(10).
(6) Insurer. – An insurance company licensed, registered, or otherwise authorized to do business under Chapter 58 of the General Statutes.
(7) Vehicle. – A motor vehicle, as that term is defined in G.S. 20-286(10), as well as self-propelled or towed vehicles designed for personal or commercial use, including, but not limited to, automobiles, trucks, motorcycles, recreational vehicles, all-terrain vehicles, snowmobiles, campers, boats, personal watercraft, and trailers for motorcycles, boats, campers, and personal watercraft.
(8) Vehicle finance agreement. – A loan, lease, or retail installment sales contract for the purchase or lease of a vehicle. (2013-193, s. 1; 2021-172, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 46 - Guaranteed Asset Protection Waivers. › § 66-441 - Scope of Article.

§ 66-441. Scope of Article.
(a) Complete Exemptions. – This Article shall not apply to any of the following:
(1) An insurance policy offered by an insurer under Chapter 58 of the General Statutes, except as provided in G.S. 66-443.
(2) A debt cancellation or debt suspension contract being offered pursuant to 12 C.F.R. Part 37, 12 C.F.R. Part 721, or any other federal law.
(b) Partial Exemption for Commercial Transactions. – G.S. 66-444, 66-446(c), and 66-447 are not applicable to a guaranteed asset protection waiver offered in connection with a lease or retail installment sale associated with a commercial transaction. (2013-193, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 46 - Guaranteed Asset Protection Waivers. › § 66-442 - Guaranteed asset protection waivers not subject to insurance laws.

§ 66-442. Guaranteed asset protection waivers not subject to insurance laws.
Guaranteed asset protection waivers are not insurance and are exempt from the provisions of Chapter 58 of the General Statutes, as are persons administering, marketing, selling, or offering to sell guaranteed asset protection waivers to borrowers. (2013-193, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 46 - Guaranteed Asset Protection Waivers. › § 66-443 - Insurance of guaranteed asset protection waivers.

§ 66-443. Insurance of guaranteed asset protection waivers.
(a) Insurance for Creditors. – Creditors may insure guaranteed asset protection waiver obligations under a contractual liability policy or other similar policy issued by an insurer but shall not be required to do so.
(b) Required Terms. – Contractual liability or other insurance policies insuring guaranteed asset protection waivers shall include terms that do all of the following:
(1) Obligate the insurer to reimburse or pay to the creditor any sums the creditor is legally obligated to waive under guaranteed asset protection waivers issued by the creditor and purchased or held by the borrower.
(2) Provide that the policy covers any subsequent assignee upon the assignment, sale, or transfer of the vehicle finance agreement.
(3) Provide that the policy remains in effect unless cancelled or terminated in compliance with applicable insurance laws of this State.
(4) Provide that the cancellation or termination of policy shall not reduce the insurer's responsibility for guaranteed asset protection waivers issued by the creditor prior to the date of cancellation or termination and for which premiums have been received by the insurer.
(c) Administrators May Procure Insurance. – An insurance policy obtained pursuant to this section may be directly obtained by a creditor or may be procured by an administrator to cover the creditor's obligations. (2013-193, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 46 - Guaranteed Asset Protection Waivers. › § 66-444 - Mandatory terms.

§ 66-444. Mandatory terms.
A guaranteed asset protection waiver shall include all of the following written terms in clear, easily understandable language:
(1) The name and address of the initial creditor and the borrower at the time of sale and the identity of any administrator if different from the creditor.
(2) The purchase price and the terms of the guaranteed asset protection waiver, including without limitation, the requirements for protection, conditions, or exclusions associated with the guaranteed asset protection waiver.
(3) The length of the free-look period, which shall be at least 30 days, and the procedure by which a borrower may exercise the borrower's rights during that period.
(4) The terms required by G.S. 66-445.
(5) The methodology for calculating any refund of the unearned purchase price of the guaranteed asset protection waiver due in the event of cancellation of the guaranteed asset protection waiver or early termination of the vehicle finance agreement.
(6) The procedure the borrower must follow, if any, to obtain guaranteed asset protection waiver benefits under the terms and conditions of the waiver, including a telephone number and address where the borrower may apply for waiver benefits.
(7) A statement that neither the extension of credit, the terms of the credit, nor the terms of the related vehicle sale or lease may be conditioned upon the purchase of the guaranteed asset protection waiver. (2013-193, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 46 - Guaranteed Asset Protection Waivers. › § 66-445 - Cancellation.

§ 66-445. Cancellation.
(a) Cancellation During Free-Look Period. – A guaranteed asset protection waiver shall include a term stating that if a borrower cancels the waiver within the free-look period, the borrower will be entitled to a full refund so long as no benefits have been provided under the guaranteed asset protection waiver.
(b) Cancellation After the Free-Look Period. – A guaranteed asset protection waiver may be either cancellable or noncancellable after the free-look period. A guaranteed asset protection waiver shall include the following terms regarding cancellation after the free-look period:
(1) A statement of whether or not the guaranteed asset protection waiver is cancellable or noncancellable after the expiration of the free-look period.
(2) If the waiver is cancellable, all of the following terms:
a. A statement that in the event of a borrower's cancellation of the guaranteed asset protection waiver or early termination of the vehicle finance agreement, the borrower may be entitled to a refund of any unearned portion of the purchase price of the waiver unless the waiver provides otherwise.
b. The procedures by which a borrower may cancel the waiver. This term shall include a requirement that in the event the underlying vehicle finance agreement is terminated, cancellation shall be made by providing a written request to the creditor, administrator, or other party within 90 days of the event terminating the vehicle finance agreement.
(c) Cancellation in the Event of Default. – Any cancellation refund under subsections (a) and (b) of this section may be applied by the creditor as a reduction of the amount owed under the vehicle finance agreement unless the borrower can show that the vehicle finance agreement has been paid in full. A guaranteed asset protection waiver shall include a term stating that notwithstanding subsections (a) and (b) of this section, if cancellation of the waiver occurs as a result of a default under the vehicle finance agreement or the repossession of the vehicle associated with the vehicle finance agreement or any other termination of the vehicle finance agreement, any refund due may be paid directly to the creditor or administrator and applied as set forth in this subsection. (2013-193, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 46 - Guaranteed Asset Protection Waivers. › § 66-446 - Miscellaneous provisions.

§ 66-446. Miscellaneous provisions.
(a) Article Controls. – The offering and sale of guaranteed asset protection waivers in this State shall be subject to the provisions of this Article.
(b) Manner of Payment. – Guaranteed asset protection waivers may, at the option of the creditor, be sold for a single payment or may be offered with a monthly or periodic payment option.
(c) Compliance With Truth in Lending Act. – Notwithstanding any other provision of law, any cost to the borrower for a guaranteed asset protection waiver entered into in compliance with the Truth in Lending Act (15 U.S.C. § 1601, et seq.) and its implementing regulations, as they may be amended from time to time, shall be separately stated and is not to be considered a finance charge or interest. The cost of a guaranteed asset protection waiver sold in compliance with this Article shall be considered an authorized charge that may be financed under Chapter 25A of the General Statutes and shall not be considered a part of the finance charge or interest thereunder.
(d) Preservation Upon Transfer. – A guaranteed asset protection waiver shall remain a part of the vehicle finance agreement upon its assignment, sale, or transfer by a creditor.
(e) Cannot Be Required. – Neither the extension of credit, the term of credit, nor the term of a related vehicle sale or lease may be conditioned upon the purchase of a guaranteed asset protection waiver.
(f) Forwarding of Proceeds. – A creditor that offers a guaranteed asset protection waiver shall report the sale of and forward funds received on all such waivers to the designated party, if any, as prescribed in any applicable administrative services agreement, contractual liability policy, other insurance policy, or other specified program documents.
(g) Fiduciary Duty. – Funds received or held by a creditor or administrator and belonging to an insurer, creditor, or administrator, pursuant to the terms of a written agreement, shall be held by the creditor or administrator in a fiduciary capacity. (2013-193, s. 1; 2021-172, s. 2.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 46 - Guaranteed Asset Protection Waivers. › § 66-447 - Enforcement.

§ 66-447. Enforcement.
The Attorney General may take action which is necessary or appropriate to enforce the provisions of this Article and to protect guaranteed asset protection waiver holders in this State. After proper notice and opportunity for hearing, the Attorney General may:
(1) Order a creditor, administrator, or any other person not in compliance with this Article to cease and desist from further guaranteed asset protection waiver-related operations which are in violation of this Article.
(2) Impose a penalty of not more than five hundred dollars ($500.00) per violation and no more than ten thousand dollars ($10,000) in the aggregate for all violations of a similar nature. For purposes of this Article, violations are of a similar nature if the violation consists of the same or similar course of conduct, action, or practice, irrespective of the number of times the conduct or practice that is determined to be a violation of the Article occurred. (2013-193, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 46 - Guaranteed Asset Protection Waivers. › § 66-448 - Severability.

§ 66-448. Severability.
If any provision of this Article or the application of the provision to any person or circumstances is held invalid, the remainder of the Article and the application of the provision to persons or circumstances other than those as to which it is held invalid shall not be affected. (2013-193, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 47 - Zip Line and Challenge Course Financial Responsibility. › § 66-455 - Definitions.

§ 66-455. Definitions.
The following definitions apply in this Article:
(1) Aerial adventure/trekking park. – A self-guided challenge course that is supervised and open to the public, where access is controlled.
(2) Canopy tour. – An aerial exploration or transit of the forest canopy, most commonly by means of a series of zip lines or aerial walkways with platforms.
(3) Challenge course. – A facility or facilities consisting of one or more devices that challenge participants. Examples of a challenge course include an aerial adventure/trekking park, a canopy tour, and a zip line tour.
(4) Commissioner. – The Commissioner of Insurance.
(5) Device. – An apparatus provided for a unit of activity on a challenge course. Examples of a device include items designed to simulate rock climbing, beams, bridges, cable traverses, climbing walls, nets, platforms, ropes, swings, towers, zip lines, and jump systems. Devices may be installed on or in trees, poles, portable structures, or buildings, or as part of a self-supporting structure.
(6) Person. – An individual, association, partnership, limited liability company, firm, corporation, or private organization.
(7) Zip line. – A lifeline suspended between support structures that enables a person attached to a pulley to traverse from one point to another propelled by the force of gravity or a passive method of controlled acceleration.
(8) Zip line tour. – An aerial exploration or transit of a landscape by means of a series of zip lines and platforms generally supported by man-made structures. (2017-118, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 47 - Zip Line and Challenge Course Financial Responsibility. › § 66-456 - Liability insurance.

§ 66-456. Liability insurance.
(a) Insurance Required. – A person cannot own or operate a challenge course, zip line, or other similar device unless the person carries insurance coverage provided by an accepted insurer of at least one million dollars ($1,000,000) per occurrence and two million dollars ($2,000,000) in the aggregate against liability for injury to persons or property arising out of the operation of such facility or use of such device. The insurance contract cannot include per person sublimits to liability. A person required to be insured under this section must immediately notify the Commissioner upon receipt of notice of cancellation, suspension, or nonrenewal of the policy.
(b) Proof of Insurance. – A person operating a challenge course, zip line, or other similar device must provide proof of insurance coverage upon request by the Commissioner. Upon failure of the person to provide proof of insurance, the Commissioner must prevent or stop operation of the facility or other similar device until the person provides proof of the required insurance coverage.
(c) Acceptable Insurer. – The insurance contract must be provided by an insurer or surety that is acceptable to the Commissioner and authorized to transact business in this State. The Commissioner cannot accept any commercial general liability insurance policy unless it obligates the insurer to give written notice to the person at least 30 days before any proposed cancellation, suspension, or nonrenewal of the policy. (2017-118, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 47 - Zip Line and Challenge Course Financial Responsibility. › § 66-457 - Exceptions.

§ 66-457. Exceptions.
This Article does not apply to any one or more of the following:
(1) A challenge course or zip line installed at a private residence that is not open to the public and for which no fee is charged.
(2) A challenge course or zip line owned or operated by the State, a unit of local government, or any political subdivision thereof. (2017-118, s. 1.)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 48 - Limited Business Immunity. › § 66-470 - Essential businesses; emergency response entities; liability limitation.

§ 66-470. Essential businesses; emergency response entities; liability limitation.
(a) Notwithstanding any other provision of law and subject to G.S. 66-471, the following entities shall have immunity from civil liability:
(1) An essential business that provides goods or services in this State with respect to claims from any customer or employee for any injuries or death alleged to have been caused as a result of the customer or employee contracting COVID-19 while doing business with or while employed by the essential business.
(2) An emergency response entity with respect to claims from any customer, user, or consumer for any injuries or death alleged to have been caused as a result of the COVID-19 pandemic or while doing business with the emergency response entity.
(b) The immunity from civil liability provided in this section shall not apply if the injuries or death were caused by an act or omission of the essential business or emergency response entity constituting gross negligence, reckless misconduct, or intentional infliction of harm. This section does not preclude an employee of an essential business or emergency response entity from seeking an appropriate remedy under Chapter 97 of the General Statues for any injuries or death alleged to have been caused as a result of the employee contracting COVID-19 while employed by the essential business or emergency response entity. (2020-3, s. 4.14(a).)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 48 - Limited Business Immunity. › § 66-471 - Applicability.

§ 66-471. Applicability.
This Article applies to acts or omissions occurring on or after the issuance of the COVID-19 essential business executive order and expires when the COVID-19 emergency declaration is rescinded or expires. (2020-3, s. 4.14(a).)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 48 - Limited Business Immunity. › § 66-472 - Definitions.

§ 66-472. Definitions.
The following definitions apply in this Article:
(1) COVID-19. – The coronavirus disease 2019.
(2) COVID-19 emergency declaration. – Executive Order No. 116 issued March 10, 2020, by Governor Roy A. Cooper, including any amendments issued by executive order, subject to extensions under Chapter 166A of the General Statutes.
(3) COVID-19 essential business executive order. – Executive Order No. 121 issued March 27, 2020, by Governor Roy A. Cooper, including any amendments issued by executive order, subject to extensions under Chapter 166A of the General Statutes.
(4) Emergency response entity. – Businesses, not-for-profit organizations, educational institutions, and governmental entities that manufacture, produce, or distribute personal protective equipment, testing equipment, or ventilators, or process COVID-19 testing results.
(5) Essential business. – Businesses, not-for-profit organizations, educational institutions, and governmental entities identified in the COVID-19 essential business executive order. The term also applies to any business that the Department of Revenue determines is essential. (2020-3, s. 4.14(a).)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 48 - Limited Business Immunity. › § 66-473 - Severability.

§ 66-473. Severability.
This Article shall be liberally construed to effectuate the public purpose of ensuring that essential businesses can provide goods and services to the public during the COVID-19 pandemic. The provisions of this Article are severable. If any part of this Article is declared to be invalid by a court, the invalidity does not affect other parts of this Article that can be given effect without the invalid provision. (2020-3, s. 4.14(a).)
2023 North Carolina General Statutes › Chapter 66 - Commerce and Business › Article 49 - Vehicle Value Protection Agreements. › § 66-481 - Definitions.

§ 66-481. Definitions.
The following definitions apply in this Article:
(1) Administrator. – The person responsible for the administrative or operational functions of vehicle value protection agreements, including, but not limited to, the adjudication of claims or benefit requests by contract holders.
(2) Commercial. – A transaction wherein the motor vehicle will primarily be used for business purposes rather than personal.
(3) Contract holder. – A person who is the purchaser or holder of a vehicle value protection agreement.
(4) Finance agreement. – A loan, retail installment sales contract, or lease for the purchase, refinancing, or lease of a motor vehicle.
(5) Free-look period. – The period of time from the effective date of the vehicle value protection agreement until the date the vehicle value protection agreement may be canceled without penalty, fees, or costs.
(6) Insurer. – An insurance company licensed, registered, or otherwise authorized to issue contractual liability insurance under the insurance laws of this State.
(7) Motor vehicle. – Self-propelled or towed vehicles designed for personal or commercial use, including, but not limited to, automobiles, trucks, motorcycles, recreational vehicles, all-terrain vehicles, snowmobiles, campers, boats, personal watercraft, and related trailers.
(8) Person. – Includes an individual, company, association, organization, partnership, business trust, corporation, and every form of legal entity.
(9) Provider. – A person that is obligated to provide a benefit under a vehicle value protection agreement.
(10) Vehicle value protection agreement. – Includes a contractual agreement that provides a benefit towards either the reduction of some or all of the contract holder's current finance agreement deficiency balance, or towards the purchase or lease of a replacement motor vehicle or purchase of motor vehicle services, upon the occurrence of an adverse event to the motor vehicle, including, but not limited to, a less than total physical damage loss or diminished value or depreciation. An agreement may include related agreements such as trade-in credit agreements, diminished value agreements, depreciation benefit agreements, or other similarly named agreements. The term does not include a guaranteed asset protection waiver as defined in G.S. 66-440(5). (2021-172, s. 3.)