There is a newer version of the North Carolina General Statutes
2010 North Carolina Code
Chapter 25A Retail Installment Sales Act.
25A-26. Substitution of collateral.
NC Gen Stat § 25A-26 What's This?
25A‑26. Substitution of collateral.
Subject to the provisions of G.S. 25A‑23, if all involved parties agree, there may be a substitution of collateral under a security instrument in a consumer credit sale. For such substitution, the seller may impose a fee not to exceed ten percent (10%) of the unpaid balance of the debt or fifteen dollars ($15.00), whichever is less. (1971, c. 796, s. 1.)
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