Bill Summary for S 176 (2023-2024)

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Bill: CONSUM. IN CRISIS PROTECT. ACT./ESOPs MIN. BUS. (NEW)

Summary date: 

Jun 27 2023

Bill Information:

View NCGA Bill Details2023-2024 Session
Senate Bill 176 (Public) Filed Tuesday, February 28, 2023
AN ACT TO ENACT THE CONSUMERS IN CRISIS PROTECTION ACT AND TO EXPAND THE DEFINITIONS OF MINORITY BUSINESS AND HISTORICALLY UNDERUTILIZED BUSINESS FOR PURPOSES OF PUBLIC CONTRACTS TO INCLUDE ESOP COMPANIES WITH MAJORITY OWNERSHIP BY MINORITY PERSONS OR SOCIALLY AND ECONOMICALLY DISADVANTAGED INDIVIDUALS.
Intro. by Johnson, Britt, Craven.

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Bill summary

Senate committee substitute to the 3rd edition makes the following changes. 

Deletes Part III of the act, which amended GS 78A-36 to prohibit a securities salesman from registering with more than one dealer unless each of the dealers which employs or associates the salesman is under common ownership or control (previously, no exception was given to the prohibition on registering with more than one dealer). Makes conforming organizational changes and changes to the act's long title.