A BILL TO BE ENTITLED
AN ACT to change the cap for the discount rate of interest used to determine the net amount payable for transfers of structured settlement payment rights.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 1‑543.12(6) reads as rewritten:
"(6)	The discount rate used in determining the net amount payable to the payee, as provided in subdivision (2) of this section, does not exceed the maximum annual percentage rate permitted under G.S. 25A‑15(b)(4) for the finance charge rate for a consumer credit installment contract calculated as if the net amount payable to the payee, as provided in sub‑subdivision (2)f. of this section, was the principal of a consumer loan made by the transferee to the payee, and if the structured settlement payments to be transferred to the transferee were the payee's payments of principal plus interest on such loan;".
SECTION 2.  This act becomes effective October 1, 2007.