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NC H104

Bill

Official Source

Status

Introduced

2/24/2015

Primary Sponsor

John Bell

Click for details

Origin

House of Representatives

2015-2016 Session

AI Summary

  • Eliminates the requirement for licensed mortgage lenders to obtain an unqualified audited financial statement
  • Replaces the audited statement requirement with a certified public accountant's compilation of financial condition
  • Maintains the minimum net worth requirement of $100,000 for mortgage lenders with $1,000,000 liquidity evidence
  • Becomes effective upon enactment

Legislative Description

Eliminate Audited Financial Statement Req

Last Action

Ref To Com On Banking

2/27/2015

Committee Referrals

Banking2/27/2015

Full Bill Text

No bill text available