North Carolina § 66-393 - Pawnbroker fees; interest rates.

§ 66-393. Pawnbroker fees; interest rates.

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: Title investigation; Handling, appraisal, and storage; Insuring a security; Application fee; Making daily reports to local law enforcement officers; and 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: 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 (1989, c. 638, s. 2; 1995 (Reg. Sess., 1996), c. 742, s. 37; 2012-46, s. 2.) Editor's Note. - Former G.S. 91A-8 was recodified as this section by Session Laws 2012-46, s. 2, effective October 1, 2012, and applicable to offenses committed on or after that date. Session Laws 2012-46, s. 33, provides, in part, that prosecutions for offenses committed before October 1, 2012, are not abated or affected by Session Laws 2012-46, and the statutes that would be applicable but for that act remain applicable to those prosecutions.