AN ACT TO (I) MAKE VARIOUS AMENDMENTS AFFECTING REAL PROPERTY, (II) STRENGTHEN THE PERSONAL LIABILITY PROTECTION FOR LIMITED LIABILITY PARTNERSHIPS, (III) ALIGN THE AUTHORITY TO TRANSFER VENUE FOR JUDICIAL REVIEW OF CONTESTED CASES WITH OTHER CASES, (IV) MAKE A CONFORMING CHANGE TO ACCOUNT FOR SPECIAL FIDUCIARIES IN GUARDIANSHIP PROCEEDINGS, AND (V) CLARIFY AND IMPROVE THE LANDMARK DESIGNATION PROCEDURE, AS RECOMMENDED BY THE GENERAL STATUTES COMMISSION.
House committee substitute to the 1st edition makes the following changes.
Makes organizational changes.
Eliminates the proposed changes to GS 41-22 that explicitly abolished the common law rule against perpetuities. Instead, repeals GS 41-22. Enacts GS 41-6.5 to provide as follows. Abolishes the common law rule against perpetuities, and acknowledges that Article 2 sets out the Uniform Statutory Rule Against Perpetuities. Sets the scope of the statute to include property interests or powers of appointment created on or after October 1, 1995. Adds that statute is meant to clarify legislative intent to abolish the common-law rule against perpetuities when it enacted SL 1995-190, which enacts the Uniform Statutory Rule Against Perpetuities. Provides that the statute does not affect any rights adjudicated in a final court decision entered on or before the date the act becomes law.
Regarding the proposed changes to GS 150B-45, relating to the procedure for petitioning judicial review of a contested case, provides that the changes are effective when the act becomes law and applicable to petitions filed on or after that date (previously, the standard effective date provision applied). Makes a technical change to add a subdivision description.
Makes technical changes to the effective date provisions.