AN ACT TO MAKE VARIOUS CHANGES TO THE GENERAL STATUTES TO INCLUDE CREDIT UNIONS BY REFERENCING FEDERALLY INSURED DEPOSITORY INSTITUTIONS AND TO INCLUDE TRUST INSTITUTIONS, TO DECREASE THE FREQUENCY OF EXAMINATIONS BY THE ADMINISTRATOR OF CREDIT UNIONS, AND TO CORRECT A CITATION.
House committee substitute makes the following changes to the 1st edition.
Amends GS 2063.01(c) (regarding bonds required for commission contractors), GS 42A17(a) (regarding vacation rental security deposits), GS 85B7.1(a) (regarding auctioneers' escrow accounts), GS 85B8 (regarding auctioneers' escrow accounts) , GS 86A22(7) (regarding bonds required for barber schools), GS 88B17(c) (regarding bonds required for private cosmetic art schools), GS 90171.55(b)(3) (regarding bonds required for nurses aides), GS 93A42(d) (regarding time share purchase escrow accounts), GS 93A45(c) (regarding time share purchase escrow accounts), by combining changes made throughout the bill to authorize various deposits and bonds currently authorized to be deposited in a federally insured depository institution also to be deposited in trust institutions authorized to do business in this State.
Amends GS 54109.16 to direct the Administrator of Credit Unions to cause every credit union formed under GS Chapter 54, Article 14A, to be examined once every 18 months or (was, and) whenever the Administrator deems necessary.
Makes technical and conforming changes.
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