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NC H707

Bill

Status

Passed

6/11/2012

Primary Sponsor

Johnathan Rhyne

Click for details

Origin

House of Representatives

2011-2012 Session

AI Summary

  • Eliminates obsolete register of deeds provisions related to jury lists, timber marks, farm names, condominium indexing, and other outdated recordation requirements effective July 1, 2012.

  • Modifies local agency charges for vital records searches to allow local agencies to retain $10.00 per certified copy issued while forwarding $14.00 to the State Registrar, with discretion to waive the $10.00 fee for persons over 62 years old.

  • Clarifies uniform trust code provisions governing powers of settlors, trustees, cotrustees, and other fiduciaries by establishing duties, liabilities, and immunity standards for directed trustees and power holders.

  • Creates new Article 8A to Chapter 36C establishing comprehensive rules for "power holders" (non-trustee persons with authority to direct trust actions), including fiduciary duties, removal procedures, and trustee liability protections.

  • Makes technical corrections to decedent's estate and trust administration laws, including changes to creditor classification, personal representative powers, final account procedures, and spousal allowance calculations.

Legislative Description

Register of Deeds/Directed Trustees/Estates

Last Action

Ch. SL 2012-18

6/11/2012

Committee Referrals

Judiciary I6/6/2011
Banking4/7/2011

Full Bill Text

No bill text available