17 NCAC 04B .2902 — Liability For Direct Loans

A person who makes direct loans and who also buys installment paper is subject to both G.S. 105-83 and G.S. 105-88. 17 NCAC 04B .2903 installment paper dealer quarterly return (a) "Installment paper dealer" means a person required to file a return pursuant to G.S. 105-83. (b) Installment paper dealers shall file their quarterly return using Form B-203. (c) Form B-203 requires the following: (1) the reporting period for the return; (2) information required by 17 NCAC 01C .0322(b); (3) the installment paper dealer's legal name and mailing address; (4) the trade name or doing-business-as name, if applicable; (5) if the installment paper dealer elects to designate a contact person, the identity of a contact person, including his or her legal name, phone number, and fax number; (6) a designation of whether the form is an amended form; (7) the total face value of installment paper acquired during the reporting period; (8) the tax due on the face value of installment paper acquired during the reporting period; (9) the penalty and interest due, if any, in accordance with G.S. 105-236 and G.S. 105-241.21; (10) the total payment due; (11) for the person authorized to legally bind the installment paper dealer, his or her: (A) signature; (B) job title; (C) date of signature; and (D) affirmation that the return is accurate and complete; (12) the location where the installment paper is held; and (13) the face value of installment paper acquired delineated by location. (d) The installment dealer shall file a return even if the installment paper dealer did not acquire obligations described in G.S. 105-83(a) during the reporting period.