AN ACT TO MAKE VARIOUS CHANGES RELATED TO REAL ESTATE TITLE INSURANCE COMPANIES AND TO AMEND THE DEPOSIT REQUIRED OF PROFESSIONAL BAILBONDSMEN ACTING AS SURETIES ON BAIL BONDS. Enacted June 22, 2018. Section 3 is effective June 22, 2018. The remainder is effective October 1, 2018.
TITLE INS. REV/BAILBONDSMEN DEPOSITS (NEW).
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View NCGA Bill Details | 2017-2018 Session |
AN ACT TO MAKE VARIOUS CHANGES RELATED TO REAL ESTATE TITLE INSURANCE COMPANIES AND TO AMEND THE DEPOSIT REQUIRED OF PROFESSIONAL BAILBONDSMEN ACTING AS SURETIES ON BAIL BONDS.Intro. by Hise.
Bill History:
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Tue, 28 Feb 2017 Senate: Filed
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Tue, 28 Feb 2017 Senate: Filed
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Wed, 1 Mar 2017 Senate: Passed 1st Reading
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Wed, 1 Mar 2017 Senate: Ref To Com On Rules and Operations of the Senate
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Wed, 1 Mar 2017 Senate: Passed 1st Reading
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Wed, 1 Mar 2017 Senate: Ref To Com On Rules and Operations of the Senate
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Thu, 2 Mar 2017 Senate: Withdrawn From Com
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Thu, 2 Mar 2017 Senate: Withdrawn From Com
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Tue, 28 Mar 2017 Senate: Reptd Fav
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Tue, 28 Mar 2017 Senate: Re-ref Com On Rules and Operations of the Senate
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Tue, 28 Mar 2017 Senate: Reptd Fav
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Tue, 28 Mar 2017 Senate: Re-ref Com On Rules and Operations of the Senate
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Wed, 29 Mar 2017 Senate: Reptd Fav
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Wed, 29 Mar 2017 Senate: Reptd Fav
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Thu, 30 Mar 2017 Senate: Passed 2nd Reading
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Thu, 30 Mar 2017 Senate: Passed 2nd Reading
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Mon, 3 Apr 2017 Senate: Withdrawn From Cal
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Mon, 3 Apr 2017 Senate: Placed On Cal For 04/04/2017
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Mon, 3 Apr 2017 Senate: Withdrawn From Cal
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Mon, 3 Apr 2017 Senate: Placed On Cal For 04/04/2017
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Tue, 4 Apr 2017 Senate: Amend Adopted A1
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Tue, 4 Apr 2017 Senate: Passed 3rd Reading
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Tue, 4 Apr 2017 Engrossed
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Tue, 4 Apr 2017 Senate: Amend Adopted A1
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Tue, 4 Apr 2017 Senate: Passed 3rd Reading
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Tue, 4 Apr 2017 Senate: Engrossed
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Wed, 5 Apr 2017 Senate: Regular Message Sent To House
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Wed, 5 Apr 2017 House: Regular Message Received From Senate
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Wed, 5 Apr 2017 Senate: Regular Message Sent To House
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Wed, 5 Apr 2017 House: Regular Message Received From Senate
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Thu, 6 Apr 2017 House: Passed 1st Reading
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Thu, 6 Apr 2017 House: Passed 1st Reading
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Wed, 6 Jun 2018 House: Withdrawn From Com
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Wed, 6 Jun 2018 House: Withdrawn From Com
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Tue, 12 Jun 2018 House: Reptd Fav Com Substitute
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Tue, 12 Jun 2018 House: Cal Pursuant Rule 36(b)
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Tue, 12 Jun 2018 House: Placed On Cal For 06/13/2018
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Wed, 13 Jun 2018 House: Passed 2nd Reading
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Wed, 13 Jun 2018 House: Passed 3rd Reading
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Thu, 14 Jun 2018 House: Special Message Sent To Senate
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Thu, 14 Jun 2018 Senate: Special Message Received For Concurrence in H Com Sub
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Thu, 14 Jun 2018 Senate: Placed on Today's Calendar
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Thu, 14 Jun 2018 Senate: Concurred In H Com Sub
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Thu, 14 Jun 2018 Senate: Ordered Enrolled
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Thu, 14 Jun 2018 Senate: Ratified
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Thu, 14 Jun 2018 Senate: Pres. To Gov. 6/14/2018
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Fri, 22 Jun 2018 Senate: Signed by Gov. 6/22/2018
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Fri, 22 Jun 2018 Senate: Ch. SL 2018-38
Bill Summaries:
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Bill S 140 (2017-2018)Summary date: Jun 25 2018 - View Summary
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Bill S 140 (2017-2018)Summary date: Jun 13 2018 - View Summary
House committee substitute rewrites the 2nd ed. entirely and makes conforming changes to the bill title. Amends GS 58-26-1(b1) to clarify that deposits by foreign and domestic insurance companies are subject to the same requirements that govern those of stock casualty companies. Effective October 1, 2018.
Amends GS 58-26-25 by deleting subsections (a), (b), (c), and (d), and adding a new subsection (a1) to require domestic title instance companies to establish and maintain a minimum premium reserve of $0.17 for $1,000 of net retained liability for each title insurance policy. Defines net retained liability as total liability for a single risk minus ceded liability. Establishes formula for release of premium reserve in equal quarterly amounts over a 20-year period. Adds new subsection (b1) requiring that amounts held in premium reserves in excess of the amount required under the new subsection (a1) as of December 31, 2018, shall be released to net profits. Makes technical conforming changes throughout the statute. Effective October 1, 2018.
Repeals GS 58-26-31 (governing premium reserves held in trust or as a deposit) and GS 58-26-35 (requiring maintenance of a premium reserve fund). Effective October 1, 2018.
Amends GS 58-71-145 by changing the deposit requirement for professional bondsmen acting as sureties on bail bonds from one-eighth to one-twelfth the amount of all bonds on which the bondsman is liable as of the first day of each month.
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Bill S 140 (2017-2018)Summary date: Jun 12 2018 - View Summary
House committee substitute is to be summarized.
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Bill S 140 (2017-2018)Summary date: Apr 4 2017 - View Summary
Senate amendment makes the following change to the 1st edition:
Includes lands and waters within Chimney Rock State Park as of May 2, 2017 (current law May 6, 2014, 1st edition April 4, 2017), within the State Nature and Historic Preserve.
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Bill S 140 (2017-2018)Summary date: Feb 28 2017 - View Summary
Amends GS 143-260.10 to modify the components of the State Nature and Historic Preserve accepted by the General Assembly pursuant to GS 143-260.8 to include all lands and waters within the boundaries of Chimney Rock State Park as of April 4, 2017 (was, May 6, 2014). Excepts from those boundaries of Chimney State Park the communications tower site on Chimney Rock Mountain located as described in Rutherford County to allow the State to provide space at the communications tower site to State public safety, emergency management, local governments in Rutherford County, and public television agencies for the placement of antennas, repeaters, and other communications devices for public communications purposes. Allows State agencies and local governments authorized under this subdivision to also locate at or near the communications tower site communications equipment necessary for the operation of the communications devices. Authorizes the use of the communications tower site under this subdivision as a purpose other than the public purposes specified in Section 5 of Article XIV of the Constitution (Conservation of natural resources), Article 25B of GS Chapter 143 (State Nature and Historic Preserve Dedication Act), and Article 2C of GS Chapter 113 (State Parks Act).
House committee substitute to the 2nd edition changes the act's long title. The title was: AN ACT TO ALLOW THE INSTALLATION OF A PUBLIC SAFETY TELECOMMUNICATIONS FACILITY IN CHIMNEY ROCK STATE PARK.