North Carolina 2025 Session Status: In Committee 1 R cosponsors

SB 60 — GSC Attorneys' Fees in Debt Instruments.

Last action — Withdrawn From Com

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced February 05, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Prognosis

Stalled 16% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 1 sponsor

    0 primary, 1 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 R).

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

16 added · 17 removed

Plain-language change summary

The recent version of Senate Bill 60 has made some adjustments to the wording related to security agreements and the process for securing possession of collateral. It clarifies the documentation needed for plaintiffs in these cases and specifies conditions regarding attorney fees and property sales. These changes aim to provide clearer guidelines for handling financial obligations and property-related disputes, which can help ensure fairer processes for all parties involved.

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FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA Feb 5, 2025 S.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2025 S 1 SENATE BILL 60 Short Title:
60 SESSION 2025 PRINCIPAL CLERK S D SENATE BILL DRS35033-MU-5 Short Title:
A BILL TO BE ENTITLED AN ACT TO CLARIFY HOW A CREDITOR MAY ENFORCE AN OBLIGATION TO PAY ATTORNEYS' FEES IN A DEBT INSTRUMENT AND TO AMEND THE DEFAULT RATE FOR THESE FEES.
Rules and Operations of the Senate February 6, 2025 A BILL TO BE ENTITLED AN ACT TO CLARIFY HOW A CREDITOR MAY ENFORCE AN OBLIGATION TO PAY ATTORNEYS' FEES IN A DEBT INSTRUMENT AND TO AMEND THE DEFAULT RATE FOR THESE FEES.
(5) The holder of an unsecured note or other writing(s) evidencing an unsecured debt, and/or the holder of a note and chattel mortgage or other security agreement and/or the holder of a conditional sale contract or any other such security agreement which evidences both a monetary obligation and a security *DRS35033-MU-5* General Assembly Of North Carolina Session 2025 interest in or a lease of specific goods, or his attorney at law, shall, after maturity of the obligation by default or otherwise, notify the maker, debtor, account debtor, endorser or party sought to be held on said obligation that the provisionsrelativetopaymentofattorneys'feesin additiontothe"outstanding balance" shall be enforced and that such maker, debtor, account debtor, endorser or party sought to be held on said obligation has five days from the mailing of such notice to pay the "outstanding balance" without the attorneys' fees.
(5) The holder of an unsecured note or other writing(s) evidencing an unsecured debt, and/or the holder of a note and chattel mortgage or other security agreement and/or the holder of a conditional sale contract or any other such securityagreement which evidences both a monetaryobligation and a security *S60-v-1* General Assembly Of North Carolina Session 2025 interest in or a lease of specific goods, or his attorney at law, shall, after maturity of the obligation by default or otherwise, notify the maker, debtor, account debtor, endorser or party sought to be held on said obligation that the provisionsrelativetopaymentofattorneys'feesin additiontothe"outstanding balance" shall be enforced and that such maker, debtor, account debtor, endorser or party sought to be held on said obligation has five days from the mailing of such notice to pay the "outstanding balance" without the attorneys' fees.
Acopy oftheassignmentorotherwriting establishing thattheplaintiff is the owner of the debt.
Acopyoftheassignmentorotherwriting establishingthattheplaintiff is the owner of the debt.
25-9-609, with the result that said secured party is required to institute an ancillary claim anddeliveryproceeding to securepossession ofsaid collateral;
25-9-609, with the result that said secured party is required to institute an ancillaryclaim anddeliveryproceedingto securepossession ofsaid collateral;
The Page 2 DRS35033-MU-5 General Assembly Of North Carolina Session 2025 award, however, shall not exceed a maximum rate of fifteen percent (15%) of the principal and interest owed at the time the lawsuit commenced or, in the case of a conditional sale contract, fifteen percent (15%) of the time price balance owed at the time the lawsuit commenced.
The Page 2 Senate Bill 60-First Edition General Assembly Of North Carolina Session 2025 award, however, shall not exceed a maximum rate of fifteen percent (15%) of the principal and interest owed at the time the lawsuit commenced or, in the case of a conditional sale contract, fifteen percent (15%) of the time price balance owed at the time the lawsuit commenced.
(1) Costs and expenses of the sale, including the trustee's commission, if any, and a reasonable auctioneer's fee if such this expense has been incurred, and reasonable counsel fees for an attorney serving as a trustee if allowed pursuant to subsection (a1) of this section;section.
(1) Costs and expenses of the sale, including the trustee's commission, if any, and a reasonable auctioneer's fee if such this expense has been incurred, and reasonable counsel fees for an attorneyservingas a trustee if allowed pursuant to subsection (a1) of this section;section.
105-385, unless the notice of sale provided that the property be sold subject to special assessments thereon on it and the property was so sold;sold.
105-385, unless the notice of sale provided that the propertybe sold subject to special assessments thereon on it and the property was so sold;sold.
(4) The obligation secured by the mortgage, deed of trust trust, or conditional sale contract.
(4) The obligation secured bythe mortgage, deed of trust trust, or conditional sale contract.
DRS35033-MU-5 Page 3 General Assembly Of North Carolina Session 2025 (1) In all cases when the owner of the property sold is dead and there is no qualified and acting personal representative of his estate, andthe owner's estate.
Senate Bill 60-First Edition Page 3 General Assembly Of North Carolina Session 2025 (1) In all cases when the owner of the property sold is dead and there is no qualified and acting personal representative of his estate, andthe owner's estate.
Page 4 DRS35033-MU-5
Page 4 Senate Bill 60-First Edition
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Action History

  1. Withdrawn From Com

  2. Re-ref to Judiciary. If fav, re-ref to Rules and Operations of the Senate

  3. Passed 1st Reading

  4. Ref To Com On Rules and Operations of the Senate

  5. Filed

Sponsors

Sponsorship breakdown

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0 sponsors · 1 co-sponsors · 178 not signed on

Sponsors (0)

None.

Co-sponsors (1)

Not signed on (178)

178 members have not signed on to this bill.

Show all 178 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 60?
SB 60 is sponsored by Amy S. Galey (Republican).
What is the current status of SB 60?
This bill is in committee in the Senate. Introduced February 05, 2025. It must pass committee before a floor vote.
Where can I track SB 60?
Track SB 60 free on One Click Politics — get push/email alerts when it moves.

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