§ 20-298. Insurance. - North Carolina Statutes

§ 20‑298.  Insurance.

It shall be unlawful for anydealer or salesman or any employee of any dealer, to coerce or offer anythingof value to any purchaser of a motor vehicle to provide any type of insurancecoverage on said motor vehicle. No dealer, salesman or representative of eithershall accept any policy as collateral on any vehicle sold by him to secure aninterest in such vehicle in any company not qualified under the insurance lawsof this State: Provided, nothing in this Article shall prevent a dealer or hisrepresentative from requiring adequate insurance coverage on a motor vehiclewhich is the subject of an installment sale. (1955, c. 1243, s. 14.)