Bill Summary for H 628 (2019-2020)

Summary date: 

Apr 16 2019

Bill Information:

View NCGA Bill Details2019-2020 Session
House Bill 628 (Public) Filed Monday, April 8, 2019
AN ACT TO ELIMINATE AN OUTDATED REQUIREMENT FOR SAVINGS BANKS AND SAVINGS AND LOAN ASSOCIATIONS TO PUBLISH ABSTRACTS OF STATEMENTS OF FINANCIAL CONDITION; TO ALLOW COMMERCIAL BANKS, SAVINGS AND LOAN ASSOCIATIONS, AND SAVINGS BANKS TO OFFER SAVINGS PROMOTION RAFFLES; AND TO ADD TO THE NORTH CAROLINA BANKING COMMISSION A MEMBER WHO IS, OR IS EMPLOYED BY A PERSON THAT IS, LICENSED UNDER THE NORTH CAROLINA SECURE AND FAIR ENFORCEMENT (S.A.F.E.) MORTGAGE LICENSING ACT.
Intro. by Grange, Hardister, Conrad, Hunter.

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Bill summary

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

Amends GS 53C-2-1(a) to require one member of the Banking Commission appointed by the Governor to be licensed or be employed by someone licensed (was, licensed or registered or employed by someone who is licensed or registered) under Article 19B of GS Chapter 53 (The Secure and Fair Enforcement Mortgage Licensing Act).

Amends the act's long title.

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