§ 105-269.13. Debts not collectible under North Carolina law.
§105‑269.13. Debts not collectible under North Carolina law.
(a) Debts NotCollectible. The following debts are not collectible and are not subject toexecution under Article 28 of Chapter 1 of the General Statutes or any otherprovision of law:
(1) A loan made by aperson who does not comply with G.S. 105‑88.
(2) A debt owed to aretailer described in subsection (b) of this section as the result of thepurchase of tangible personal property.
(b) Retailer. A debtowed to a retailer is subject to this section if all of the following appliesto the retailer:
(1) The retailer meetsone or more of the conditions in G.S. 105‑164.8(b).
(2) The retailer is notregistered to collect the use tax due under Article 5 of this Chapter on itssales delivered to an address in North Carolina.
(3) The retailerreported gross sales of at least five million dollars ($5,000,000) on its mostrecent federal income tax return.
(c) Assignment. Anassignment to a person of a debt listed in subsection (a) of this section is subjectto the collection restrictions imposed by this section. (2000‑120,s. 9.)