S807 - Conform Full-Payment Check Law to Uniform Commercial Code. (SL 2016-52)

Overview: S.L. 2016-52 provides an option for claimants to repay monies received as full satisfaction of a claim within 90 days of receipt to maintain their claim against the debtor for full payment. This change was recommended by the General Statutes Commission and allows for North Carolina to mirror the Uniform Commercial Code (UCC).

This act becomes effective October 1, 2016, and applies to negotiable instruments tendered in full satisfaction of a claim on or after that date.