A BILL TO BE ENTITLED
AN ACT to allow certain motorcycle financing programs in north carolina.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 25A‑34 reads as rewritten:
"§ 25A‑34.  Balloon payments.
With respect to a consumer credit sale, other than one pursuant to a revolving charge account, no scheduled payment may be more than ten percent (10%) (except the final payment may be twenty‑five percent (25%)) larger than the average of earlier scheduled payments. This section does not apply when the payment schedule is adjusted to the seasonal or irregular income of the buyer. This section does not apply to the sale of a motorcycle as defined in G.S. 20‑4.01(27)d."
SECTION 2.  This act is effective when it becomes law and applies to contracts entered into on or after that date.