§ 20-58.8. Applicability of §§ 20-58 to 20-58.8; use of term "lien".

198 words·~1 min read·/nc/chapter-20/20-58-8

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(a)Repealed by Session Laws 2000, c. 169, s. 30.

(b)The provisions of G.S. 20-58 through 20-58.8 inclusive shall not apply to or affect:

(1)A lien given by statute or rule of law for storage of a motor vehicle or to a supplier of services or materials for a vehicle;

(2)A lien arising by virtue of a statute in favor of the United States, this State or any political subdivision of this State; or

(3)A security interest in a vehicle created by a manufacturer or by a dealer in new or used vehicles who holds the vehicle in his inventory.

(c)When the term "lien" is used in other sections of this Chapter, or has been used prior to October 1, 1969, with reference to transactions governed by G.S. 20-58 through 20-58.8, to describe contractual agreements creating security interests in personal property, the term "lien" shall be construed to refer to a "security interest" as the term is used in G.S. 20-58 through 20-58.8 and the Uniform Commercial Code. (1961, c. 835, s. 6; 1969, c. 838, s. 1; 2000-169, s. 30.)