House committee substitute to the 1st edition makes the following changes.  Makes organizational changes and amends the act’s titles.

Section 2

Extends the expiration date for the provisions of GS 105-228.4A(g) (concerning captive insurance companies) from taxable years starting January 1, 2024, (was, 2025 in previous edition) to taxable years starting January 1, 2026.

Section 4

Amends GS 45-21.4 (places of sale of real property) to increase the number of places where sale of real property may occur when either (1) the mortgage or deed of trust with power of sale of real property confers the mortgagee or trustee the right to designate the place of sale or (2) the mortgage or deed of trust with power of sale of real property does not designate, or confer upon the mortgagee or trustee the right to designate, the place of sale, or when it designates as the place of sale some county in which no part of the property is situated, to include another public location within the county (or counties) where the land (or any part thereof, if the land is in more than one county) is situated as designated by the mortgagee or trustee if the deed of trust/mortgage confers them with the right of sale or as designated by the clerk of the superior court where the land (or any part thereof) is located.

Amends GS 45-21.23 (time of sale of real property) to increase the time when a sale must begin from no later than one hour after the designated start time in the notice of sale to no later than three hours after that start time. 

Enacts new GS 45-21.25A authorizing remote bids for sale of real property, as follows. Authorizes the person exercising the power of sale of real property or their agent to accept remote bids from persons not physically present at the place of sale, as designated pursuant to GS 45-21.4. Requires that all bids accepted at the sale must be clearly announced to all participating bidders, whether physically present or not.  Directs the person exercising the power of the sale or their agent to collect all funds required to be paid by the winning bidder prior to accepting a remote bid. Prohibits the person exercising the power of sale of real property or their agent from assessing any charges to the mortgagor incurred in connecting with remote bidding. Further specifies that such charges are not recoverable as costs and expenses of the foreclosure.  Effective October 1, 2024, and applies to notices of foreclosure sale filed with the clerk of superior court on or after that date.

Section 5

Amends GS 58-2-255 (concerning electronic insurance communications and records) as follows. Amends definitions of communications to include identification cards required to be provided to a party under insurance laws. Adds newly defined terms health benefit plan and health benefit plan sponsor. Permits a health benefit plan sponsor to provide consent on behalf of any enrolled plan individual for communications related to the plan to be delivered electronically, to the extent authorized by the Employee Retirement and Income Security Act of 1974 (ERISA). Requires that the sponsor confirm that the individual routinely uses electronic communications during their course of employment before consenting. Lists four steps an insurer must take before delivering electronic communications. Allows for covered individuals to withdraw their consent. Prevents an insurer from cancelling, refusing to issue, or refusing to renew any policy because an individual refuses to agree to receive communications delivered by electronic means. Effective October 1, 2024, and applies to contracts entered into on or after that date.

Section 6

Changes the general effective date of the act to when it becomes law, unless otherwise provided (was, October 1, 2023).