North Carolina § 53-250 - Prohibited activities.
Full text of North Carolina North Carolina General Statutes § 53-250 — Prohibited activities., with citation guidance and answers to common questions.
§ 53-250. Prohibited activities.
A facilitator of a refund anticipation loan may not engage in any of the following activities: Misrepresenting a material factor or condition of a refund anticipation loan. Failing to arrange for a refund anticipation loan promptly after the debtor applies for the loan. Engaging in any transaction, practice, or course of business that operates a fraud upon any person in connection with a refund anticipation loan. Facilitating a refund anticipation loan for which the refund anticipation loan fee is (i) different from the fee posted or the fee filed with the Commissioner or (ii) in an amount that the Commissioner has notified the facilitator is unconscionable. Directly or indirectly arranging for payment of any portion of the refund anticipation loan for check cashing, credit insurance, or any other good or service unrelated to (i) preparing and filing tax returns or (ii) facilitating refund anticipation loans. Arranging for a creditor to take a security interest in any property of the debtor other than the proceeds of the debtor's tax refund to secure payment of the loan. History (1989 (Reg. Sess., 1990), c. 881, s. 2.)
Frequently Asked Questions About North Carolina § 53-250
What does North Carolina General Statutes § 53-250 cover?
Section 53-250 ("Prohibited activities.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 53-250?
A common citation format is "North Carolina General Statutes § 53-250" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 53-250 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.