No pawnbroker shall demand or receive an effective rate of interest greater than two percent (2%) per month, and no other charge of any description or for any purpose shall be made by the pawnbroker, except that the pawnbroker may charge, contract for, and recover an additional monthly fee for the following services, including but not limited to:

(1)        Title investigation;

(2)        Handling, appraisal, and storage;

(3)        Insuring a security;

(4)        Application fee;

(5)        Making daily reports to local law enforcement officers; and

(6)        For other expenses, including losses of every nature, and all other services.

In no event may the total of the above listed monthly fees on a pawn transaction exceed twenty percent (20%) of the principal up to a maximum of the following:

First month                                        $100.00

Second month                                       75.00

Third month                                          75.00

Fourth month and thereafter                 50.00

In addition, pawnbrokers may charge fees for returned checks as allowed by N.C. Gen. Stat. § 25-3-506. ?(1989, c. 638, s. 2; 1995 (Reg. Sess., 1996), c. 742, s. 37; 2012-46, s. 2.)

Terms Used In North Carolina General Statutes 66-393

  • Appraisal: A determination of property value.
  • Contract: A legal written agreement that becomes binding when signed.
  • following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
  • month: shall be construed to mean a calendar month, unless otherwise expressed; and the word "year" a calendar year, unless otherwise expressed; and the word "year" alone shall be equivalent to the expression "year of our Lord. See North Carolina General Statutes 12-3
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