North Carolina § 14-425 - Enjoining practice of debt adjusting; appointment of receiver for money and property employed.

§ 14-425. Enjoining practice of debt adjusting; appointment of receiver for money and property employed.

The superior court shall have jurisdiction, in an action brought in the name of the State by the Attorney General or the district attorney of the prosecutorial district as defined in G.S. 7A-60 , to enjoin, as an unfair or deceptive trade practice, the continuation of any debt adjusting business or the offering of any debt adjusting services. The Attorney General or the district attorney who brings an action under this section may appoint a receiver for the property and money employed in the transaction of business by such person as a debt adjuster, to ensure, so far as may be possible, the return to debtors of so much of their money and property as has been received by the debt adjuster, and has not been paid to the creditors of the debtors. The court may also assess civil penalties under G.S. 75-15.2 and award attorneys' fees to the State under G.S. 75-16.1 . History (1963, c. 394, s. 3; 1973, c. 47, s. 2; 1987 (Reg. Sess., 1998), c. 1037, s. 49; 2005-408, s. 3; 2007-79, s. 1.) Editor's Note. - Session Laws 2005-408, s. 4, provided that the amendments made by s. 3 of that act were to expire October 1, 2007, but that sunset provision was repealed by Session Laws 2007-79, s. 1, effective September 1, 2007. Effect of Amendments. - Session Laws 2005-408, s. 3, effective September 20, 2005, rewrote the section.