GENERAL ASSEMBLY OF NORTH CAROLINA
1991 SESSION
CHAPTER 635
The General Assembly of North Carolina enacts:
Section 1. G.S. 50-20 is amended by adding the following new subsection to read:
"(i1) After an action for equitable distribution has been filed the Court may, for just cause, order the spouse in control of marital assets to transfer the use and possession of some or all of those assets to the other spouse provided that any and all assets so transferred shall be subject to a full accounting when the property is ultimately allocated in an equitable distribution judgment. Any property transfer made pursuant to this subsection shall be made without prejudice to the rights of either spouse to claim a contrary classification, value, or distribution in the final equitable distribution trial."
Sec. 1.1. G.S. 50-20(b)(1) reads as rewritten:
"(1) 'Marital property'
means all real and personal property acquired by either spouse or both spouses
during the course of the marriage and before the date of the separation of the
parties, and presently owned, except property determined to be separate
property in accordance with subdivision (2) of this sectionsubsection.
Marital property includes all vested pension, retirement, and other deferred
compensation rights, including military pensions eligible under the federal
Uniformed Services Former Spouses' Protection Act. It is presumed that
all property acquired after the date of marriage and before the date of
separation is marital property except property which is separate property under
subdivision (2) of this subsection. This presumption may be rebutted by
the greater weight of the evidence."
Sec. 2. This act becomes effective October 1, 1991, and applies to actions for equitable distribution pending or filed on or after that date.
In the General Assembly read three times and ratified this the 11th day of July, 1991.
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James C. Gardner
President of the Senate
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Daniel Blue, Jr.
Speaker of the House of Representatives