Nothing in this Article shall be construed to apply to any person, firm or corporation doing business under the authority of any law of this State or of the United States relating to banks, trust companies, savings and loan associations, cooperative credit unions, agricultural credit corporations or associations organized under the laws of North Carolina, production credit associations organized under the act of Congress known as the Farm Credit Act of 1933, pawnbrokers lending or advancing money on specific articles of personal property, industrial banks, the business of negotiating loans on real estate, nor to installment paper dealers as defined in G.S. 105-83 other than persons, firms and corporations engaged in the business of accepting fees for endorsing or otherwise securing loans or contracts for repayment of loans.
N.C. Gen. Stat. § 53-191
Businesses exempted
Known as the North Carolina Consumer Finance Act
The act spans §§ 53–53 (29 sections).
Applied in 2 court decisions — leading case 16 F. Supp. 3d 605 - Dillon v. BMO Harris Bank, N.A. (2014)
Most recently applied in 16 F. Supp. 3d 605 - Dillon v. BMO Harris Bank, N.A. (April 2014)
1955, c. 1279; 1957, c. 1429, s. 8; 1961, c. 1053, s. 1; 1969, c. 1303, s. 26; 2023-134, s. 42.7(b).
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.