North Carolina § 106-418 - 6. Action upon failure of payment.
Full text of North Carolina North Carolina General Statutes § 106-418 — 6. Action upon failure of payment., with citation guidance and answers to common questions.
§ 106-418. 6. Action upon failure of payment.
It shall be the duty and responsibility of each public livestock market to report to the Commissioner within 24 hours after having knowledge that a check or draft issued in payment for livestock has been dishonored or that a buyer of livestock at auction has not fulfilled his obligation to pay for livestock within the prescribed time in G.S. 106-418.5 . It shall be the duty and responsibility of the Commissioner to notify all public livestock markets of the fact of dishonor of any such check issued or the failure to honor any draft upon presentation used in payment for livestock or due to the lack of satisfactory payment for livestock. History (1973, c. 38, s. 6.)
Source: official North Carolina text · Last verified 2026-08-27
Frequently Asked Questions About North Carolina § 106-418
What does North Carolina General Statutes § 106-418 cover?
Section 106-418 ("6. Action upon failure of payment.") 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 § 106-418?
A common citation format is "North Carolina General Statutes § 106-418" (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 § 106-418 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.