§ 25A-26. Substitution of collateral.

§25A‑26.  Substitution of collateral.

Subject to the provisions ofG.S. 25A‑23, if all involved parties agree, there may be a substitutionof collateral under a security instrument in a consumer credit sale. For suchsubstitution, the seller may impose a fee not to exceed ten percent (10%) ofthe unpaid balance of the debt or fifteen dollars ($15.00), whichever is less. (1971,c. 796, s. 1.)