§ 20-58.8. Applicability of §§ 20-58 to 20-58.8; use of term "lien". - North Carolina Statutes

§20‑58.8.  Applicability of §§ 20‑58 to 20‑58.8; use of term"lien".

(a)        Repealed by SessionLaws 2000, c. 169, s. 30.

(b)        The provisions ofG.S. 20‑58 through 20‑58.8 inclusive shall not apply to or affect:

(1)        A lien given bystatute or rule of law for storage of a motor vehicle or to a supplier ofservices or materials for a vehicle;

(2)        A lien arising byvirtue of a statute in favor of the United States, this State or any politicalsubdivision of this State; or

(3)        A security interestin a vehicle created by a manufacturer or by a dealer in new or used vehicleswho holds the vehicle in his inventory.

(c)        When the term"lien" is used in other sections of this Chapter, or has been usedprior to October 1, 1969, with reference to transactions governed by G.S. 20‑58through 20‑58.8, to describe contractual agreements creating securityinterests in personal property, the term "lien" shall be construed torefer to a "security interest" as the term is used in G.S. 20‑58through 20‑58.8 and the Uniform Commercial Code. (1961,c. 835, s. 6; 1969, c. 838, s. 1; 2000‑169, s. 30.)