Bill Summary for S 364 (2011-2012)
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Summary date:
Mar 16 2011
Bill Information:
| View NCGA Bill Details | 2011-2012 Session |
TO REQUIRE THE CANCELLATION OF AN AIRCRAFT LABOR AND STORAGE LIEN WHEN A SURETY BOND IN AN AMOUNT EQUAL TO ONE AND ONE FOURTH TIMES THE AMOUNT OF THE LIEN CLAIMED IS DEPOSITED WITH THE CLERK OF COURT.Intro. by Clodfelter.
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Bill summary
Amends GS 44A-75 as the title indicates. Additionally provides that upon the deposit of the surety bond in the specified amount, the lien holder or the lien holder’s agent is to release the aircraft to the owner, if the lien holder has possession of the aircraft. Effective when the act becomes law and applies to liens perfected under Article 5 of GS Chapter 44A on or after that date.