Summit Title strongly supports HB 690 regarding interest on closing funds and the unauthorized practice of law. You can review the bill at:

http://www.ncga.state.nc.us/Sessions/2011/Bills/House/HTML/H690v3.html

We support the prevailing North Carolina attorney closing system and are against the idea of non-attorney “closing shops”. Although this bill would not outlaw closing shops, requiring them to pay the interest earned on closing funds to IOLTA and cracking down on the unauthorized practice of law are steps in the right direction.