Bill Summaries: H832 (2011-2012 Session)

  • Summary date: Jun 8 2011 - View summary

    House committee substitute makes the following changes to 1st edition. Replaces original bill with AN ACT TO AUTHORIZE THE LEGISLATIVE RESEARCH COMMISSION TO STUDY NONATTORNEY OWNERSHIP OF PROFESSIONAL CORPORATION LAW FIRMS. As title indicates. Directs the Commission to review issues raised by the first edition of House Bill 832. Specifies reporting requirements.

  • Summary date: Apr 8 2011 - View summary

    Identical to S 254, filed 3/8/11.

    Enacts new subsection (a2) to GS 55B-6 to allow any person to own up to 49% of the stock of a professional corporation providing legal services under GS Chapter 84 (regulating attorneys), provided five enumerated criteria are met, including the requirement that licensees own and control voting stock representing at least 51% of the votes entitled to be cast in the director election for the professional corporation. Makes other technical and conforming changes. Effective October 1, 2011.