Bill Summary for S 853 (2013-2014)

Summary date: 

Jun 12 2014

Bill Information:

View NCGA Bill Details2013-2014 Session
Senate Bill 853 (Public) Filed Tuesday, May 27, 2014
AN ACT TO MODERNIZE THE BUSINESS COURT BY MAKING TECHNICAL, CLARIFYING, AND ADMINISTRATIVE CHANGES TO THE PROCEDURES FOR COMPLEX BUSINESS CASES, TO STREAMLINE THE PROCESS OF CORPORATE REORGANIZATION UTILIZING HOLDING COMPANIES, AND TO ESTABLISH A BUSINESS COURT MODERNIZATION SUBCOMMITTEE OF THE JOINT LEGISLATIVE ECONOMIC DEVELOPMENT AND GLOBAL ENGAGEMENT OVERSIGHT COMMITTEE.
Intro. by Rucho, Barringer.

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Bill summary

Senate amendment makes the following changes to the 2nd edition. Makes technical changes to the structure of the bill renumbering and re-lettering bill sections. Makes clarifying changes to GS 7A-45.4(a)(3) regarding disputes involving antitrust or unfair competition law. Also makes clarifying changes to GS 7A-45.4(a)(5) to provide that any party may designate as a mandatory complex business case an action that involves a material issue related to disputes involving the ownership, use, licensing, lease, installation, or performance of intellectual property, including computer software, data and data security, pharmaceuticals, biotechnology products, and bioscience technologies.

Amends the definitions for (1)constituent corporation, (2)holding company, and (3)surviving entityto clarify that each term means a corporation incorporated under the laws of North Carolina or a limited-liability company organized under the laws of this state (was, means a corporation incorporated or organized in this state).

Makes a technical correction to GS 7A-27, removing subsection (c).

Amends GS 105-241.17 to provide that a taxpayer bringing a civil action challenging a tax statute as unconstitutional must follow the procedures in GS 1-267.1 [was, must follow the procedures for a mandatory business case as provided in GS 7A-45.4(b) through (f)].

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