Credit life insurance; interest on proceeds. (HB1429)

Introduced By

Del. Bob Purkey (R-Virginia Beach)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
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