GENERAL ASSEMBLY OF NORTH CAROLINA

1983 SESSION

 

 

CHAPTER 671

HOUSE BILL 503

 

AN ACT SETTING THE DATE FOR VALUATION OF PROPERTY DIVIDED UNDER EQUITABLE DISTRIBUTION.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 50-21 is amended by designating the present language as subsection (a) and adding a new subsection to read:

"(b)      If the divorce is granted on the ground of one year separation, the marital property shall be valued as of the date of separation as determined under G.S. 50-6. If the divorce is granted on any ground listed in G.S. 50-5, the marital property shall be valued as of the date the divorce action is filed or as of the date of last separation, whichever date is earlier."

Sec. 2.  This act is effective on August 1, 1983, and shall apply to all civil actions brought under G.S. 50-20 et seq. including those actions pending in the District Court Division on the effective date hereof.

In the General Assembly read three times and ratified, this the 1st day of July, 1983.