House committee substitute makes the following changes to the 2nd edition. 

Expands proposed GS 58-58-370, dealing with preemption of other laws, to clarify that the new legislation does not preempt the authority of the Department of State Treasurer to examine records and conduct an audit.

Makes changes to proposed GS 58-58-380 to (1) include new definitions of active premium payment and retained asset account, (2) adjust the definition of annuity and asymmetric conduct, (3) refine the definition of beneficiary to cases in which benefits are payable due to a death, and (4) remove a reference to industrial life insurance from the definition of policy.

Adjusts the processes by which certain insurers may become exempt from the new requirement to perform a search of the United States Social Security Administration's death master file for policies, annuities or retained asset accounts, issued before October 1, 2015, by (1) requiring a sworn affidavit and (2) removing the authority of the North Carolina Commissioner of Insurance to exempt insurers. 

Removes interest payments on death benefits under GS 58-58-110 from a requirement that certain benefits be paid to beneficiaries or account owners before escheating to the State as unclaimed property. 

Makes technical changes. 

Changes the effective date of new Part 7 from July 1 to October 1, 2015.