Sept. 24, 2021
A North Carolina Senate committee has advanced a bill supporters said would protect consumers from harmful products and services and offer them more choices. House Bill 624, dubbed the North Carolina Regulatory Sandbox Act, allows companies to temporarily offer trials of financial or insurance products or services to consumers without being subjected to certain licensing or other regulatory requirements. HB624 creates a North Carolina Innovation Council to select insurance or financial companies or entrepreneurs for a two-year sandbox program. Those selected would be authorized to offer an "innovative" product or service.
When the Johnston County town of Benson began replacing its sewer lines along Main Street two years ago, it found that some of the pipes date back 71 years, Mayor Jerry Medlin said. Some of those pipes were made out of clay, and some weren’t even hooked up, Medlin said. Benson got money to help replace the pipes through typical means, loans or grants from the state Department of Environmental Quality’s Division of Water Infrastructure Authority. The problem has been that there is never enough money to go around. That burden was lifted to a degree this year though, after passage of the American Rescue Plan Act, a $1.9 trillion relief package approved by the Biden administration in March that seeks to combat the health and economic impacts caused by the COVID-19 pandemic.
On September 20, North Carolina Governor Roy Cooper signed House Bill 320 into law, permitting North Carolina corporations to hold shareholders’ meetings solely by means of remote communication under the North Carolina Business Corporation Act (NCBCA). Given the health concerns and logistical challenges around having a physical shareholders’ meeting during the COVID-19 pandemic, many North Carolina corporations relied on the Governor’s executive orders to conduct all or part of such meetings by remote communication during the state of emergency. The newly enacted legislation permits both annual and special meetings of shareholders to be held entirely by remote communication under the NCBCA.
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