NORTH CAROLINA GENERAL ASSEMBLY

1969 SESSION

CHAPTER 896

SENATE BILL 686

AN ACT TO AMEND G.S. 24-9 SO AS TO PROPERLY DEFINE THE TERM "COMMERCIAL FACTOR".

The General Assembly of North Carolina do enact:

Section 1.  G.S. 24-9, as it appears in the 1965 Replacement Volume 1D of the General Statutes, is hereby amended by rewriting the last sentence thereof to read as follows:

"For the purpose of this section, the term 'commercial factor' shall be defined to mean any corporation, foreign or domestic, or any partnership which engages principally in the aforesaid secured financing."

Sec. 2.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 3.  This Act shall be in full force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 17th day of June, 1969.