Bill Summary for S 477 (2023-2024)
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Summary date:
Sep 12 2023
Bill Information:
| View NCGA Bill Details | 2023-2024 Session |
AN ACT TO MAKE VARIOUS CHANGES TO THE NORTH CAROLINA BUSINESS CORPORATION ACT AND TO ELIMINATE DUPLICATIVE STATE DISCLOSURE REQUIREMENTS FOR BUSINESS OPPORTUNITY SELLERS THAT FILE COMPARABLE DISCLOSURES WITH THE FEDERAL TRADE COMMISSION, AS RECOMMENDED BY THE NORTH CAROLINA BAR ASSOCIATION, TO MODIFY THE RIGHT OF A SHAREHOLDER OF A CORPORATION TO INSPECT THE RECORDS OF A SUBSIDIARY ENTITY OF THAT CORPORATION, AND TO STANDARDIZE THE EVIDENCE REQUIRED TO PROVE A DEBT.Intro. by Galey, Overcash.
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Bill summary
House committee substitute to the 4th edition makes the following changes.
Removes proposed Part VII, added by the previous edition, which amended GS 58-70-90 to include a definition of “Itemized accounting,” amended GS 58-70-11, concerning unfair practices, and amended GS 58-70-155(b) concerning items to be included in authenticated business records to establish the amount and nature of a debt.
Makes conforming organizational changes. Makes changes to the act's long title.