§ 105-269.13. Debts not collectible under North Carolina law. - North Carolina Statutes

§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.)