Bill Securing Domestic Business Assets Passes in Senate
A legal climate that provides adequate protections for businesses is a key factor for a competitive state economy. Legislation currently moving through the General Assembly aims to enhance the security of domestic assets for companies operating in North Carolina.
Senate Bill 596 passed the Senate yesterday with unanimous support, and is now expected to be considered in the House. This bill would clarify existing law regarding state enforcement of legal judgments made in foreign countries by providing added protections for domestic businesses. These balanced measures will decrease the legal cost burden on our state’s employers and give North Carolina a competitive advantage over states without strong laws safeguarding their domestic assets.
We applaud the actions of the Senate in strengthening certainty and stability in the civil liability system for domestic companies – we urge the House to act to ensure the passage of this important bill that boosts our ability to attract new business investments to North Carolina. We will keep you updated on further action regarding this vital issue.
Gary J. Salamido
Vice President, Government Affairs
North Carolina Chamber