A Symposium on Proposed Revisions to North Carolina’s Lien and Bond Law was held on Friday, January 21 hosted by the NC Bar Association Construction Law Section and & United Minority Contractors of North Carolina Joint Committee. The special meeting was held on the campus of Wake Forest University.
Industry representatives discussed a preliminary draft of proposed revisions to the NC Lien and Bond Law drafted by the NCBA Construction Law Section. The drafting group is attempting to revise the lien law statutes to comport more closely with current industry practices and to address case law and economic conditions which have revealed deficiencies or troubling sections of the existing law.
Several decisions from the NC courts have resulted in harsh results due to uncertainty of the process. The purpose of the revisions is to bring more certainty to the process and better protect all parties involved.
The drafting committee hopes to come up with proposed legislation and a consensus by mid-February that could be introduced to the North Carolina General Assembly during the 2011 legislative session.
The protections afforded owners, banks, title companies, design professionals, contractors, subcontractors, and suppliers through mechanics’ and laborers’ liens impact all who participate in the NC construction industry. The NCBA section has created a gmail account email@example.com where stakeholders can submit comments and suggestions through the close of business on January 31. The NCBA’s website has links to the draft and summary at www.ncbar.org. Read More.