GENERAL ASSEMBLY OF NORTH CAROLINA
1987 SESSION
CHAPTER 938
AN ACT INCREASING THE INTEREST TO BE PAID ON PARTIAL LICENSE FEES.
The General Assembly of North Carolina enacts:
Section 1. G.S. 20-94 reads as rewritten:
"§ 20-94. Partial payments.-In the purchase of licenses, where the gross amount
of the license to any one owner amounts to more than four hundred dollars
($400.00), half of such payment may, if the Commissioner is satisfied of
the financial responsibility of such owner, be deferred until June 1 in
any calendar year upon the execution to the Commissioner of a draft upon any
bank or trust company upon forms to be provided by the Commissioner in an
amount equivalent to one half of such tax, plus a carrying charge of one
percent (1%) eight percent (8%): Provided, that any person
using any tag so purchased after the first day of June in any such year without
having first provided for the payment of such draft, shall be guilty of a
misdemeanor. No further license plates shall be issued to any person executing
such a draft after the due date of any such draft so long as such draft or any
portion thereof remains unpaid. Any such draft being dishonored and not paid
shall be subject to the penalties prescribed in G.S. 20-178 and shall be
immediately turned over by the Commissioner to his duly authorized agents
and/or the State Highway Patrol, to the end that this provision may be
enforced. When the owner of the vehicles for which a draft has been given sells
or transfers ownership to all vehicles covered by the draft, such draft shall
become payable immediately, and such vehicles shall not be transferred by the
Division until the draft has been paid. Any one owner whose gross license
amounts to more than two hundred dollars ($200.00) but not more than four
hundred dollars (§0.00) ($400.00) may also be permitted to sign a
draft in accordance with the foregoing provisions of this section provided such
owner makes application for the draft on or before February 1 during the
license renewal period."
Sec. 2. This act is effective upon ratification.
In the General Assembly read three times and ratified this the 24th day of June, 1988.