A BILL TO BE ENTITLED
AN ACT to amend the statute of repose for products liability actions.
The General Assembly of North Carolina enacts:
SECTION 1.  Article 5 of Chapter 1 of the General Statutes is amended by adding the following new section to read:
"§ 1‑46.5.  Fifteen years.
No action for the recovery of damages for personal injury, death, or damage to property based upon or arising out of any alleged defect or any failure in relation to a product shall be brought more than fifteen years after the date of initial purchase for use or consumption."
SECTION 2.  G.S. 1‑50(a)(6) is repealed.
SECTION 3.  This act becomes effective July 1, 2007, and applies to causes of action arising on or after that date; provided, however, this act shall not apply to a cause of action involving a product initially purchased for use or consumption prior to July 1, 1992.