NORTH CAROLINA GENERAL ASSEMBLY
1967 SESSION

CHAPTER 765
HOUSE BILL 540

AN ACT TO AMEND THE PROVISIONS OF G.S. 45-37 RELATING TO THE DISCHARGE OF RECORD OF MORTGAGES AND DEEDS OF TRUST.

The General Assembly of North Carolina do enact:

Section 1.  G.S. 45-37 is hereby amended by changing the period at the end of paragraph numbered 1, to a semicolon, and adding thereto the following: "Provided, however, that in those counties in which deeds of trust and mortgages are recorded in the offices of the register of deeds by a microphotographic process or by any other method of process which renders impractical or impossible the subsequent entering of marginal notations upon the records of instruments, the trustee or mortgagee or his or her legal representative, or the duly authorized agent or attorney of such trustee, mortgagee or legal representative must also present to the register of deeds or his deputy a document or instrument constituting a notice of satisfaction and containing the information set out in the provisions of G.S. 45-37.2, which notice of satisfaction must be signed by the trustee, mortgagee, legal representative or attorney, and witnessed by the register or his deputy, who shall also affix his name thereto, and which shall be recorded in accordance with law."
Sec. 2.  G.S. 45-37 is hereby further amended by adding to paragraph number 2, at the end thereof, the following: "Provided, however, that in any county in which deeds of trust and mortgages or other instruments intended to secure the payment of money are recorded in the office of the register of deeds by microphotographic process or by any other method of process which renders impractical or impossible the subsequent entering of marginal notations upon the records of instruments, the register of deeds shall, in lieu of cancelling the mortgage or other entry by an entry of satisfaction on the margin of the record, require the person exhibiting suah instruments to also sign a notice of satisfaction sufficient to comply with the provisions of G.S. 45-37.2, which said notice of satisfaction is to be recorded and indexed in accordance with law."
Sec. 3.  Paragraph numbered 3 of G.S. 45-37 is hereby further amended by adding a new sentence at the end thereof to read as follows: "Provided, however, that in any county in which deeds of trust and mortgages and other instruments intended to secure the payment of money are recorded in the office of the register of deeds by microphotographic process or by any other method of process which renders impractical or impossible the subsequent entering of marginal notations upon the records of instruments, the register of deeds shall, in lieu of making an entry of cancellation in satisfaction on the margin of the record, require the presentation for recordation of a notice of satisfaction sufficient to comply with the provisions of G.S. 45-37.2."
Sec. 4.  Paragraph numbered 4 of G.S. 45-37 is hereby further amended by adding a new sentence thereto to read as follows: "Provided, however, that in any county in which deeds of trust and mortgages are recorded in the office of the register of deeds by microphotographic process or by any other method of process which renders impractical or impossible the subsequent entering of marginal notations upon the records of instruments, the register of deeds, in lieu of making notices of satisfaction and cancellation upon the recorded instruments, shall require the submission for recordation of a notice of satisfaction sufficient to comply with the provisions of G.S. 45-37.2."
Sec. 5.  G.S. 45-37 is hereby further amended by adding a new sentence at the end thereof to read as follows: "Provided, however, that in any county in which deeds of trust and mortgages are recorded in the office of the register of deeds by microphotographic process or by any other method of process which renders impractical or impossible the subsequent entering of marginal notations upon the records of instruments, it shall not be necessary for the register of deeds, upon recording such affidavit, to refer on the margin of the record of the instrument referred to therein the fact of the filing of such affidavit, and a reference to the book and page where it is recorded."
Sec. 6.  G.S. 45-37.2 is hereby amended by deleting the last sentence thereof.
Sec. 7.  All laws and clauses of laws in conflict with this Act are hereby repealed.
Sec. 8.  This Act shall be in full force and effect from and after its ratification.
In the General Assembly read three times and ratified, this the 13th day of June, 1967.