Late Monday, a House Judiciary Committee approved yet another version of SB 853 - Modernize Business Court. This one includes two new provisions regarding corporations, and logically, a study to identify further needs of NC's Business Court.

The central provisions of this bill dealing with NC's Business Court, appeals, and the designation of complex business cases remains constant even in this 5th version of the bill. What's new (and directly related) is the creation of The Working Group on Judicial Efficiency and Business Court Modernization which will consist of 18 members and will meet between enactment of the bill and the opening of the 2015 Legislative Session in January.

The Working Group on Judicial Efficiency and Business Court Modernization is comprised of:

• Three Senators

• Three Representatives

• One representative of the Administrative Office of the Courts

• One current or former employee of the UNC School of Government

• Three Superior Court judges

• A district attorney

• A criminal attorney

• Someone with Information Technology expertise in the Judicial Branch

• Two civil litigators

• A public interest attorney

• An attorney with appellate experience

The new provisions include streamlining corporate reorganization by using holding companies and validating corporate forum selection provisions contained in articles of incorporation.

The bill still needs approval from the House Finance Committee due to the filing fee increase of $100 for a case in the Business Court. We'll let you know when that's happening.

Please view the latest version of the bill here.