Bill Summary for S 414 (2011-2012)

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Summary date: 

Apr 26 2011

Bill Information:

View NCGA Bill Details2011-2012 Session
Senate Bill 414 (Public) Filed Wednesday, March 23, 2011
TO PROVIDE THAT RECIPROCAL ATTORNEYS' FEES PROVISIONS IN BUSINESS CONTRACTS ARE VALID AND ENFORCEABLE UNDER THE LAWS OF THIS STATE.
Intro. by Clodfelter.

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Bill summary

Senate amendment makes the following changes to 2nd edition, as amended. Amends new GS 6-21.6(b) to provide that any award of reasonable attorneys’ fees in an action or proceeding on the contract primarily for monetary damages may not exceed the monetary damages awarded. Adds a subsection providing that nothing in the new statute in any way makes valid or invalid attorney’s fees provisions in a contract of insurance governed by GS Chapter 58 (replaces provision added in previous amendment).