§ 93A-37. Contracts with unlicensed schools and evidences of indebtedness made null and void. - North Carolina Statutes

§93A‑37.  Contracts with unlicensed schools and evidences of indebtednessmade null and void.

All contracts or agreementsentered into on or after October 1, 1980, by private real estate schools, asdefined in this Article, with students or prospective students, and allpromissory notes or other evidence of indebtedness taken on or after October 1,1980, in lieu of cash payments by such schools, shall be null and void unlesssuch schools are duly licensed as required by this Article on the date of suchcontract or agreement or taking of any promissory note or other evidence ofindebtedness. (1979, 2nd Sess., c. 1193, s. 1.)