Bill Summary for H 690 (2011-2012)
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Summary date:
May 19 2011
Bill Information:
| View NCGA Bill Details | 2011-2012 Session |
TO REQUIRE THAT RESIDENTIAL REAL ESTATE CLOSINGS AND SETTLEMENTS UNDER THE GOOD FUNDS SETTLEMENT ACT BE SUPERVISED BY ATTORNEYS LICENSED IN THIS STATE, TO REQUIRE THAT INTEREST EARNED ON REAL ESTATE SETTLEMENT FUNDS HELD IN TRUST OR ESCROW ACCOUNTS BE PAID INTO THE NORTH CAROLINA STATE BAR’S INTEREST ON LAWYERS’ TRUST ACCOUNT FUND, AND TO PROVIDE A PRIVATE CAUSE OF ACTION FOR PERSONS HARMED BY THE UNAUTHORIZED PRACTICE OF LAW.Intro. by Stevens, Jordan.
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Bill summary
House amendment makes the following change to 2nd edition. Amends proposed GS 84-10.1 to clarify that there is a private cause of action for a person damaged by any person who knowingly violates any of the provisions of GS 84-4 through 84-6, or 84-9.