Bill Summary for H 462 (2017-2018)

Summary date: 

Apr 6 2017
S.L. 2017-165

Bill Information:

View NCGA Bill Details2017-2018 Session
House Bill 462 (Public) Filed Thursday, March 23, 2017
AN ACT TO MAKE TECHNICAL, CLARIFYING, AND OTHER AMENDMENTS TO PROVISIONS APPLICABLE TO COMMERCIAL BANKS, PROVISIONS APPLICABLE TO BANK HOLDING COMPANIES, AND PROVISIONS APPLICABLE TO CREDIT UNIONS.
Intro. by Howard, Setzer, Destin Hall, Conrad.

View: All Summaries for BillTracking:

Bill summary

House committee substitute makes the following changes to the 1st edition.

Amends the long title.

Deletes the provisions repealing GS 53C-9-405 and GS 53C-9-406.

Amends GS 54-109.57A (Payable on Death accounts). Provides that a pledge of a payable on death account by any owner, unless otherwise specifically agreed between a credit union and all other owners in writing, is a valid pledge and transfer of the account or of the pledged amount, is binding on all owners and beneficiaries, does not operate to sever or terminate the joint ownership of all or any part of the account, and survives the death of any owner or any beneficiary.

© 2021 School of Government The University of North Carolina at Chapel Hill

This work is copyrighted and subject to "fair use" as permitted by federal copyright law. No portion of this publication may be reproduced or transmitted in any form or by any means without the express written permission of the publisher. Distribution by third parties is prohibited. Prohibited distribution includes, but is not limited to, posting, e-mailing, faxing, archiving in a public database, installing on intranets or servers, and redistributing via a computer network or in printed form. Unauthorized use or reproduction may result in legal action against the unauthorized user.

Printer-friendly: Click to view