N.C. Gen. Stat. § 66-393
Pawnbroker fees; interest rates
Redline — June 1, 2021 → current.View current text →
Current — June 1, 2022
As of June 1, 2021
No pawnbroker shall demand or receive an effective rate of interest greater than two percent (2%) per month, and no other charge of any description or for any purpose shall be made by the pawnbroker, except that the pawnbroker may charge, contract for, and recover an additional monthly fee for the following services, including but not limited to:
No pawnbroker shall demand or receive an effective rate of interest greater than two percent (2%) per month, and no other charge of any description or for any purpose shall be made by the pawnbroker, except that the pawnbroker may charge, contract for, and recover an additional monthly fee for the following services, including but not limited to:
(1) Title investigation;
(1) Title investigation;
(2) Handling, appraisal, and storage;
(2) Handling, appraisal, and storage;
(3) Insuring a security;
(3) Insuring a security;
(4) Application fee;
(4) Application fee;
(5) Making daily reports to local law enforcement officers; and
(5) Making daily reports to local law enforcement officers; and
(6) For other expenses, including losses of every nature, and all other services.
In no event may the total of the above listed monthly fees on a pawn transaction exceed twenty percent (20%) of the principal up to a maximum of the following:
(6) For other expenses, including losses of every nature, and all other services. In no event may the total of the above listed monthly fees on a pawn transaction exceed twenty percent (20%) of the principal up to a maximum of the following: In addition, pawnbrokers may charge fees for returned checks as allowed by G.S. 25-3-506.
First month..................................................$100.00 Second month...................................................75.00 Third month....................................................75.00 Fourth month and thereafter....................................50.00
First month $100.00 Second month 75.00 Third month 75.00 Fourth month and thereafter 50.00
In addition, pawnbrokers may charge fees for returned checks as allowed by G.S. 25-3-506.
History
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.