The North Carolina General Assembly is considering Senate Bill 602 which will modify the existing law concerning Lien Agents and the North Carolina Lien law. The bill provides a new provision to the existing law which would provide a way for a Lien Claimant to give notice of cancellation of the Notice to the Lien Agent upon full payment. The notice would be given electronically using the web site for the notice to the Lien Agent. The current language of the law would make the cancellation optional and not required.
The proposed change adds a new element to the Lien Agent portion of the Lien Law. Many of our clients are concerned that the law not require them to file a cancellation upon payment given the expense and other administrative constraints to the law. We will continue to monitor the proposed legislation and keep you posted. Please let us know if you have questions or concerns.