NC H502

Adds a definition of "consumer" to North Carolina's automatic renewal law (G.S. 75-41) as any natural person purchasing or leasing products or services for personal, family, household, or agricultural purposes under a contract with an automatic renewal clause.

Applies to contracts entered into on or after October 1, 2017.

Existing automatic renewal requirements remain in effect, including clear disclosure of renewal clauses, cancellation instructions, pre-renewal notice 15-45 days before renewal, and notification of any changing terms in at least 12-point bold type.

Exempts insurers, banks, credit unions, entities regulated by the Federal Communications Commission or North Carolina Utilities Commission, and entities operating under franchise or license from a political subdivision.

Violations of automatic renewal requirements render the renewal clause void and unenforceable.