N.C. Gen. Stat. § 25-9-325

(1) Subordination of security interest in transferred collateral. - Except as otherwise provided in subsection (b) of this section, a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: The debtor acquired the collateral subject to the security interest created by the other person;

(2) The security interest created by the other person was perfected when the debtor acquired the collateral; and

(3) There is no period thereafter when the security interest is unperfected.

(4) Limitation of subsection (a) subordination. - Subsection (a) of this section subordinates a security interest only if the security interest: Otherwise would have priority solely under G.S. 25-9-322(a) or G.S. 25-9-324; or

(5) Arose solely under G.S. 25-2-711(3) or G.S. 25-2A-508(5).