Bill Summary for S 853 (2013-2014)
Aug 1 2014
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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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Clarifications & Corrections to the conference report summary:
Amends GS 7A-45.3 to exempt an order effecting a settlement agreement or a jury verdict from the orders in connection with which the presiding Business Court judge is required to issue a written opinion.
Amends GS 7A-45.4 to delete the exception preventing parties from designating disputes that involve enforcing a noncompetition or nonsolicitation covenant against an individual employee as a mandatory complex business case.