NC S374

Enacts Chapter 25D of North Carolina General Statutes establishing the "North Carolina Lease-Purchase Agreement Act" effective January 1, 2019, regulating lease-purchase agreements for personal property used primarily for personal, family, or household purposes.

Requires lessors to provide consumers with detailed written disclosures including total number and amount of payments needed to acquire ownership, cash price of property, maintenance responsibilities, purchase option terms, and right to terminate without penalty by returning property in good repair.

Prohibits lease-purchase agreements from containing confessions of judgment, negotiable instruments, security interests, wage assignments, waivers of claims, or authorizations for breach of peace during repossession.

Grants consumers reinstatement rights allowing them to recover leased property after voluntary surrender within 21 days (if less than two-thirds of payments made) or 45 days (if two-thirds or more of payments made) by paying all past due amounts.

Amends G.S. 115C-218.45(f) to allow charter schools to grant enrollment priority to siblings of currently enrolled students, removing the requirement that siblings be from previous years and expanding the definition to include half-siblings, stepsiblings, and children in family foster homes.