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.
Amends GS 7A-27(a) regarding appeals of right from trial division courts to expand the cases in which the appeal by right lies directly with the Supreme Court to include any final judgment in a case (1) designated as a mandatory complex business case under GS 7A-45.4, or (2) designated as a discretionary complex business case under Rule 2.1 of the General Rules of Practice for the Superior and District Courts. Applies to appeals filed on or after October 1, 2014.
Amends GS 7A-45.3 to require a presiding Business Court Judge to issue a written opinion upon on the final disposition of a complex business case.
Amends GS 7A-45.4 regarding the designation of an action as a complex business case. Permits any party to designate an action as a mandatory complex business case when the action involves a material issue related to: (1) disputes arising under the following chapters of the General Statutes-55, 55A, 55B, 57D, and 59 concerning partnerships, limited liability companies, and corporations but excludes charitable and religious organizations qualified under GS 55A-1-40(4) on the grounds of religious purposes; (2) disputes involving securities law arising under GS Chapter 78A; (3) disputes involving an antitrust or unfair competition law arising under common law or GS Chapter 75; (4) disputes involving trademark law arising under GS Chapter 80; (5) disputes involving trade secrets under Article 24 of GS Chapter 66; and (6) certain contract disputes in which all of the specified conditions are met including that the amount in controversy is computed as at least $1 million. Applies to petitions filed or actions commenced on or after October 1, 2014.
Requires that the following actions must be designated as mandatory complex business cases: (1) an action involving a material issue related to tax law that has been the subject of a contested tax case for which judicial review is requested under GS 105-241.16 or that is a civil action under GS 105-241.17; (2) an action described in subsection (a) of GS 7A-45.4 in which the amount in controversy computed in accordance with GS 7A-243 is at least $5 million; and (3) an action brought pursuant to GS 62-350, whichinvolves regulation of pole attachments. Applies to actions commenced or petitions filed on or after October 1, 2014. Applies to actions commenced or petitions filed on or after October 1, 2014.
Requires the party designating an action as a mandatory complex business case to file a Notice of Designation in the Superior Court in which the action has been filed and to at the same time serve notice on each opposing party or counsel and ontheSuperior Court Judge for Complex Business Cases. Additionally requires contemporaneous transmission of the notice by e-mail or fax to the Chief Justice of the Supreme Court for approval of the designation as a mandatory complex business case and assignment to a specific Business Court Judge. Provides that failing to designate an action as a mandatory complex business case when it is required to be designated as such under subsection (b) of this section, requires the Superior Court in which the action has been filed to either dismiss the action without prejudice or stay the action until it has been properlydesignatedas a mandatory complex business caseunder this section. Applies to actions commenced or petitions filed on or after October 1, 2014.
Amends GS 7A-305(a)(2) to increase the filing fee for complex business cases to $1,100 (was, $1,000). Also provides that if a court on its own motion assigns a case to a special superior court judge as a complex business case under GS 7A-45.3, the plaintiff is required to pay an additional $1,100 (was, $1,000) for support of the General Court of Justice.Applies to actions commenced or petitions filed on or after October 1, 2014.
Amends GS 7A-343 to expand the duties of the Director, who is the Administrative Officer of the Courts, to include a requirement that the Director prepare and submit a semiannual report on the activities of each North Carolina business court site to the Chief Justice and to eachmemberof the General Assembly. Provides specifications as to the content and scope of this report and declares it to be separate from the report currently required under subdivision (8) of this section.
Except as otherwise indicated, this act is effective when it becomes law.
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