Bill Summary for S 198 (2021-2022)

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Bill: GSC GOOD FUNDS SETTLEMENT/COMM. RECEIVERSHIP.

Summary date: 

Jul 26 2021
S.L. 2021-93

Bill Information:

View NCGA Bill Details2021
Senate Bill 198 (Public) Filed Monday, March 8, 2021
AN ACT TO PROVIDE THAT A SETTLEMENT AGENT MAY DISBURSE SETTLEMENT PROCEEDS IN RELIANCE ON A CHECK DRAWN ON THE ACCOUNT OF OR ISSUED BY A LICENSED MORTGAGE LENDER, TO MAKE AMENDMENTS RELATING TO THE NORTH CAROLINA COMMERCIAL RECEIVERSHIP ACT, AND TO MAKE TECHNICAL CHANGES TO VARIOUS LAWS REGULATING FINANCIAL PRACTICES, AS RECOMMENDED BY THE GENERAL STATUTES COMMISSION.
Intro. by Edwards, Galey.

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Bill summary

AN ACT TO PROVIDE THAT A SETTLEMENT AGENT MAY DISBURSE SETTLEMENT PROCEEDS IN RELIANCE ON A CHECK DRAWN ON THE ACCOUNT OF OR ISSUED BY A LICENSED MORTGAGE LENDER, TO MAKE AMENDMENTS RELATING TO THE NORTH CAROLINA COMMERCIAL RECEIVERSHIP ACT, AND TO MAKE TECHNICAL CHANGES TO VARIOUS LAWS REGULATING FINANCIAL PRACTICES, AS RECOMMENDED BY THE GENERAL STATUTES COMMISSION. SL 2021-93. Enacted July 22, 2021. Effective July 22, 2021.