Credit life insurance; interest on proceeds. (HB1429)
Introduced By
Del. Bob Purkey (R-Virginia Beach)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Credit life insurance; interest on proceeds. Exempts credit life insurance that is payable in whole or in part to a creditor that is an affiliate of the insurer and that does not charge postdeath interest on the indebtedness, from requirements that insurers pay interest on the proceeds of a life insurance policy. Amends § 38.2-3115 (“Interest on life insurance proceeds.”), of the Code of Virginia. View Full Text »
Status
03/24/2006: signed by governor
View Bill's History

