AN ACT TO AUTHORIZE THE RELEASE OF FUNDS DEPOSITED BY AN UPSET BIDDER OR A HIGH BIDDER IN A FORECLOSURE PROCEEDING WHEN A BANKRUPTCY PETITION IS FILED. Summarized in Daily Bulletin 4/13/11. Enacted June 23, 2011. Effective October 1, 2011.
RELEASE OF UPSET BID DEPOSIT (NEW).
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| View NCGA Bill Details(link is external) | 2011-2012 Session |
TO REQUIRE THAT THE NOTICE OF SALE AND THE NOTICE FILED BY AN UPSET BIDDER IN A FORECLOSURE PROCEEDING INCLUDE AN EXPLANATION OF THE EFFECT OF A BANKRUPTCY PETITION THAT IS FILED DURING THE TEN DAY UPSET BID PERIOD.Intro. by Randleman.
Status: Ch. SL 2011-204 (House Action) (Jun 23 2011)
Bill History:
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Tue, 22 Feb 2011 House: Filed(link is external)
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Thu, 24 Feb 2011 House: Passed 1st Reading(link is external)
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Thu, 24 Feb 2011 House: Ref To Com On Judiciary Subcommittee A(link is external)
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Wed, 13 Apr 2011 House: Reptd Fav Com Substitute(link is external)
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Wed, 13 Apr 2011 House: Cal Pursuant Rule 36(b)(link is external)
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Wed, 13 Apr 2011 House: Placed On Cal For 4/14/2011(link is external)
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Thu, 14 Apr 2011 House: Passed 2nd & 3rd Reading(link is external)
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Fri, 15 Apr 2011 Senate: Rec From House(link is external)
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Tue, 19 Apr 2011 Senate: Passed 1st Reading(link is external)
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Tue, 19 Apr 2011 Senate: Ref To Com On Finance(link is external)
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Mon, 13 Jun 2011 Senate: Reptd Fav(link is external)
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Tue, 14 Jun 2011 Senate: Passed 2nd & 3rd Reading(link is external)
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Wed, 15 Jun 2011 Ratified(link is external)
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Thu, 16 Jun 2011 Pres. To Gov. 6/16/2011(link is external)
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Thu, 23 Jun 2011 Signed By Gov. 6/23/2011(link is external)
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Thu, 23 Jun 2011 Ch. SL 2011-204(link is external)
H 164/S.L. 2011-204
Bill Summaries:
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Summary date: Jun 30 2011 - View Summary
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Bill H 164 (2011-2012)Summary date: Apr 13 2011 - View Summary
House committee substitute makes the following changes to 1st edition.
Deletes all provisions of the first edition and instead enacts new subsection (d) to GS 45-21.22 to require the clerk of superior court or the trustee or mortgagee to release any deposits, as detailed, if completion of the foreclosure sale is stayed pursuant to specified federal law before the expiration of the 10-day upset bid period. Makes clarifying changes, and makes a conforming change to the statute’s catch line. Effective October 1, 2011.
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Bill H 164 (2011-2012)Summary date: Feb 23 2011 - View Summary
Adds subdivision (9) to GS 45-21.16A(a) (regarding notice of sale) and adds subdivision (3a) to GS 45-21.27(e) (regarding an upset bid on real property) as the title indicates. Makes a technical change to GS 45-21.27(e). Effective October 1, 2011, and applies to upset bid notices filed on or after that date.
View: All Summaries for Bill