North Carolina § 66-399 - Bond.

§ 66-399. Bond.

Every person, firm, or corporation licensed under this Part shall, at the time of receiving the license, file with the city or county issuing the license a bond payable to such city or county in the sum of five thousand dollars ($5,000), to be executed by the licensee, and by two responsible sureties or a surety company licensed to do such business in this State, to be approved by the city or county, which shall be for the faithful performance of the requirements and obligations pertaining to the business so licensed. The city or county may sue for forfeiture of the bond upon a breach thereof. Any person who obtains a judgment against a pawnbroker and upon which judgment execution is returned unsatisfied may maintain an action in his own name upon the bond, to satisfy the judgment. History (1989, c. 638, s. 2; 2012-46, ss. 2, 14.) Editor's Note. - Former G.S. 91A-14 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: "This act becomes effective October 1, 2012, and applies to offenses committed on or after that date. Prosecutions for offenses committed before the effective date of this act are not abated or affected by this act, and the statutes that would be applicable but for this act remain applicable to those prosecutions." Effect of Amendments. - Session Laws 2012-46, s. 14, substituted "Part" for "Chapter" in the first sentence. For effective date and applicability provision, see Editor's note.