Bill Summary for H 575/SL 2011-222 (2011-2012)

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Bill: SERVICE AGREEMENTS/ALLOW RESERVE ACCOUNT.

Summary date: 

Jun 30 2011
S.L. 2011-222

Bill Information:

View NCGA Bill Details(link is external)2011-2012 Session
House Bill 575 (Public) Filed Thursday, March 31, 2011
TO PROVIDE THAT IN LIEU OF CONTRACTUAL LIABILITY INSURANCE, A SERVICE CONTRACT PROVIDER MAY MAINTAIN A FUNDED RESERVE ACCOUNT FOR ITS OBLIGATIONS UNDER SERVICE CONTRACTS ISSUED AND OUTSTANDING IN THIS STATE.
Intro. by Dockham.

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Bill summary

AN ACT TO PROVIDE THAT IN LIEU OF CONTRACTUAL LIABILITY INSURANCE, A SERVICE CONTRACT PROVIDER MAY MAINTAIN A FUNDED RESERVE ACCOUNT FOR ITS OBLIGATIONS UNDER SERVICE CONTRACTS ISSUED AND OUTSTANDING IN THIS STATE. Summarized in Daily Bulletin 3/31/11 and 5/18/11. Enacted June 23, 2011. Effective July 1, 2011.