Bill Summary for H 104 (2015-2016)
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Summary date:
Feb 24 2015
Bill Information:
View NCGA Bill Details(link is external) | 2015-2016 Session |
AN ACT TO ELIMINATE THE REQUIREMENT THAT LICENSED MORTGAGE LENDERS OBTAIN AN AUDITED FINANCIAL STATEMENT, AS RECOMMENDED BY THE LEGISLATIVE RESEARCH COMMISSION STUDY COMMITTEE ON BANKING LAW AMENDMENTS.Intro. by J. Bell, Jordan.
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Bill summary
Amends GS 53-244.104, concerning The Secure and Fair Enforcement Mortgage Licensing Act, replacing the requirement that licensed mortgage lenders obtain an unqualified audited financial statement documenting required net worth and liquidity amounts with a requirement that such amounts be documented by a certified public accountant’s compilation of financial condition.