GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2001

SESSION LAW 2002-26

HOUSE BILL 1504

AN ACT to repeal an obsolete attestation requirement that conveyances by banks must be executed by the secretary or the cashier and to validate conveyances by banks that otherwise comply with the statute on execution of corporate conveyances, as recommended by the general statutes commission.

The General Assembly of North Carolina enacts:

SECTION 1.  G.S. 47-42 reads as rewritten:

"§ 47-42.  Attestation of bank conveyances by secretary or cashier.

(a) In all forms of proof and certificates for deeds and conveyances executed by banking corporations, either the secretary or the cashier of said banking corporation shall attest such instruments.

(b)       All deeds and conveyances executed prior to February 14, 1939, by banking corporations, where the cashier of said banking corporation has attested said instruments, which deeds and conveyances are otherwise regular, are hereby validated.

(c) All deeds and conveyances executed by a banking corporation on or after October 1, 1999, that complied with G.S. 47-18.3 are hereby validated."

SECTION 2.  This act is effective when it becomes law. This act does not apply to litigation pending on that date or to any instrument directly or indirectly involved in litigation pending on that date.

In the General Assembly read three times and ratified this the 11^th day of July, 2002.

                                                                    s/ Beverly E. Perdue

                                                                         President of the Senate

                                                                    s/ James B. Black

                                                                         Speaker of the House of Representatives

                                                                    s/ Michael F. Easley

                                                                         Governor

Approved 1:41 p.m. this 22^nd day of July, 2002