GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2015
SESSION LAW 2015-109
SENATE BILL 682
AN ACT to limit use of contingent‑based contracts for audit or assessment purposes.
The General Assembly of North Carolina enacts:
SECTION 1. Section 6 of S.L. 2012‑152, as amended by Section 61.5(b) of S.L. 2012‑194, reads as rewritten:
"SECTION 6. Sections
1, 3, and 3.1 of this act become effective October 1, 2012. The Treasurer shall
not renew any contingency fee‑based contracts for these services after
October 1, 2012. The Treasurer shall not assign further audits on a contingency
fee basis to an auditing firm under a contract that meets all the following
conditions: (i) the contract would have been prohibited under this act had the
contract been entered into after October 1, 2012, and (ii) the contract allows
the assignment of audits on a discretionary basis by the Treasurer. Sections 2,
4, and 5 of this act become effective July 1, 2013, and expire July
1, 2015. From2013. After July 1, 2013, until July 1, 2015, cities
and counties shall not renew any contingency fee‑based contracts for
these services. From After July 1, 2013, until July 1, 2015, cities
and counties shall not assign further audits on a contingency fee basis to an
auditing firm under a contract that meets all the following conditions: (i) the
contract would have been prohibited under this act had the contract been
entered into after July 1, 2013, and (ii) the contract allows the assignment of
audits on a discretionary basis. The remainder of the act is effective when the
act becomes law."
SECTION 2. This act is effective when it becomes law.
In the General Assembly read three times and ratified this the 17th day of June, 2015.
s/ Daniel J. Forest
President of the Senate
s/ Tim Moore
Speaker of the House of Representatives
s/ Pat McCrory
Governor
Approved 10:15 a.m. this 24th day of June, 2015