\n(a) Debts Not Collectible. – The following debts are not collectible and are not subject to execution under Article 28 of Chapter 1 of the General Statutes or any other provision of law:\n(1) A loan made by a person who does not comply with G.S. 105-88.\n(2) A debt owed to a retailer described in subsection (b) of this section as the result of the purchase of tangible personal property.\n(b) Retailer. – A debt owed to a retailer is subject to this section if all of the following applies to the retailer:\n(1) The retailer meets one or more of the conditions in G.S. 105-164.8(b).\n(2) The retailer is not registered to collect the use tax due under Article 5 of this Chapter on its sales delivered to an address in North Carolina.\n(3) The retailer reported gross sales of at least five million dollars ($5,000,000) on its most recent federal income tax return.\n(c) Assignment. – An assignment to a person of a debt listed in subsection (a) of this section is subject to the collection restrictions imposed by this section. (2000-120, s. 9.)
North Carolina Legal Code