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I checked, and I did not find any specific North Carolina laws that discuss degree mills, or diploma mills.
That being said, though, the Federal Bureau of Investigation (FBI) has arrested and prosecuted persons who run degree mills, or who use degrees issued by degree mills. Here are some articles about these arrests and prosecutions: http://www.quackwatch.org/04ConsumerEducation/dm0.html; http://www.usatoday.com/money/workplace/2003-09-28-fakedegrees_x.htm; http://www.degree.net/html/diploma_mills.html. The basis for the arrests and prosecution is that these activities constitute criminal fraud, and because they usually involve more than one state, federal laws apply.
Here is a link to legitimate universities in the United States, including North Carolina: http://www.chea.org/degreemills/frmStates.htm.