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3 changes to N.C. business law coming in 2014

After the first of the new year, businesses will see changes to laws regulating real estate appraisers, as well as changes to the N.C. Business Corporation Act and the N.C. Limited Liability Co. Act.

Real estate appraisers will be required to hold an associate’s or bachelor’s degree, complete all instructional courses created on or after Jan. 1, 2008, and have at least 2,500 hours of real estate appraising to qualify for licensure.

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Changes to the N.C. Business Corporation Act will make it mandatory for the board of directors to notify shareholders if their annual meeting will be held remotely, and to describe how the meeting will be conducted. Other changes include recommendations from the board of directors against mergers and notifying shareholders of mergers.

The N.C. Limited Liability Co. Act amendment includes a new chapter that defines how documents are to be submitted to the Secretary of State, as well as the filing requirements an LLC must meet, such as submitting documents by the manager or other company official.

SOURCE: Triangle Business Journal

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