§ 115D-97. Contracts with unlicensed schools and evidences of indebtedness made null and void. - North Carolina Statutes

§ 115D‑97. Contracts with unlicensed schools and evidences of indebtedness made null andvoid.

All contracts entered into by proprietary business, proprietarytechnical, proprietary trade, or correspondence schools, with students orprospective students, and all promissory notes or other evidence ofindebtedness taken in lieu of cash payments by such schools shall be null andvoid unless such schools are duly licensed as required by this Article. (1957, c. 1000; 1961, c. 1175, s. 11; 1981, c. 423, s.1; 1987, c. 442, s. 2; 1989 (Reg. Sess., 1990), c. 877, s. 9.)