NORTH CAROLINA GENERAL ASSEMBLY

1981 SESSION

CHAPTER 934

HOUSE BILL 1278

AN ACT TO AMEND THE PREVIOUS 1981 ACTS CONCERNING USURY LAWS.

The General Assembly of North Carolina enacts:

Section 1. G.S. 24-1.1(3), as rewritten by Section 1 of Chapter 465 of the 1981 Session Laws, is amended by rewriting the last sentence of that subdivision to read:

"The rate so announced shall be the maximum rate permitted for the term of loans made under this section during the following calendar month."

Sec. 2. G.S. 24-1.2(3), as enacted by Section 1 of Chapter 464 of the 1981 Session Laws, is amended by rewriting the last sentence of that subdivision to read:

"The rate so announced shall be the maximum rate permitted for the term of loans made under this section during the following calendar month."

Sec. 3. This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 10th day of July, 1981.