Event

  Changes to North Carolina's Mechanic's Lien and Payment Bond Laws Speaking Engagement 09.11.2012 12:00am Changes to North Carolina's Mechanic's Lien and Payment Bond Laws, presented by Gib Laite, Williams Mullen at The Associated Builders and Contractors of the Carolinas Triad Council Membership Luncheon

Tuesday September 11th, 2012 11:30 a.m.—1:00 p.m.
Sheraton Koury Convention Center (3121 High Point Road at I-40) Imperial G Ballroom, Entry F- Covered Entrance

$25 Members $35 Non-members
Please click the "Registration and More Information" link at the top to register.

The economic downturn in the past few years brought to light deficien-cies in North Carolina’s mechanic’s lien and payment bond laws. Given the “rob Peter to pay Paul” syn-drome that evolved as contractors and subcontractors struggled to survive, the title companies found themselves buried in an avalanche of lien claims in properties con-veyed during the downturn, and general contractors (simply referred to as “contractors” under the stat-utes) found that due to subcontrac-tors not passing payments made down the chain, they were at risk of paying for the same work or materi-als twice, either to get paid by the owner on private jobs, or under their master surety agreements with their bonding companies on public jobs when the surety was liable for payment under the bond. This session, the General Assem-bly has attempted to fix many of these issues.