{"data":{"id":"us-nc/n.c.-gen.-stat.-25-9-513","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-9-513","heading":"Termination statement.","body":"(a)\tConsumer Goods. - A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if the financing statement covers consumer goods and either of the following applies:\n(1)\tThere is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value.\n(2)\tThe debtor did not authorize the filing of the initial financing statement.\n(b)\tTime for Compliance with Subsection (a). - To comply with subsection (a) of this section, a secured party shall cause the secured party of record to file the termination statement by the earlier of the following:\n(1)\tWithin one month after there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value.\n(2)\tWithin 20 days after the secured party receives a signed demand from a debtor.\n(c)\tOther Collateral. - In cases not governed by subsection (a) of this section, within 20 days after a secured party receives a signed demand from a debtor, the secured party shall cause the secured party of record for a financing statement to send to the debtor a termination statement for the financing statement or file the termination statement in the filing office if any of the following applies:\n(1)\tExcept in the case of a financing statement covering accounts or chattel paper that has been sold or goods that are the subject of a consignment, there is no obligation secured by the collateral covered by the financing statement and no commitment to make an advance, incur an obligation, or otherwise give value.\n(2)\tThe financing statement covers accounts or chattel paper that has been sold but as to which the account debtor or other person obligated has discharged its obligation.\n(3)\tThe financing statement covers goods that were the subject of a consignment to the debtor but are not in the debtor's possession.\n(4)\tThe debtor did not authorize the filing of the initial financing statement.\n(d)\tEffect of Filing Termination Statement. - Except as otherwise provided in G.S. 25-9-510, upon the filing of a termination statement with the filing office, the financing statement to which the termination statement relates ceases to be effective. Except as otherwise provided in G.S. 25-9-510, for purposes of G.S. 25-9-519(g), 25-9-522(a), and 25-9-523(c), the filing with the filing office of a termination statement relating to a financing statement that indicates that the debtor is a transmitting utility also causes the effectiveness of the financing statement to lapse. (1945, c. 182, s. 5; c. 196, s. 3; 1961, c. 574; 1965, c. 700, s. 1; 1967, c. 562, s. 1; 1969, c. 1115, s. 1; 1973, c. 1316, ss. 2, 3; 1975, c. 862, s. 7; 1985, c. 221; 1989, c. 523, s. 5; 1991, c. 164, s. 2; 2000-169, s. 1; 2025-25, s. 94.)","path":["Chapter 25. Uniform Commercial Code.","Article 9. Secured Transactions.","Part 5. Filing."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-9-513.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"01d7583c259fcd02de3915d643b30c4d40c27e8598dc2bc5a66386cf5d4b81ae","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-9-512","next":"us-nc/n.c.-gen.-stat.-25-9-514"},"notice":"GroundRules: Original legal text. Not legal advice."}