Thursday, December 4, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
HB1660: Premarital agreements; contents.
Be it enacted by the General Assembly of Virginia:
1. That § 20-150 of the Code of Virginia is amended and reenacted as follows:
§ 20-150. Content of agreement.
Parties to a premarital agreement may contract with respect to:
1. The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located;
2. The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property;
3. The disposition of property upon separation, marital dissolution, death, or the occurrence or nonoccurrence of any other event;
4. Spousal support;
5. The making of a will, trust, or other arrangement to carry out the provisions of the agreement;
6. The ownership rights in and disposition of the death benefit from a life insurance policy;
7. The choice of law governing the construction of the
agreement; and
8. The application of stricter standards upon which either party may seek a divorce under subdivision A (9) of § 20-91 on the ground of living separate and apart, including waiver of the ability of either party to seek a divorce on no-fault grounds. The parties may specifcally contract to increase the time periods provided for in subdivision A (9) of § 20-91 before either party may seek a divorce and may also impose other standards, including but not limited to requiring that the parties undertake counseling prior to filing for divorce, so long as such standards are not in violation of public policy or a statute imposing a criminal penalty; and
89. Any
other matter, including their personal rights and obligations, not in violation
of public policy or a statute imposing a criminal penalty.
Additional Data
Explanation
This is the actual text of the bill — the legislation itself. Generally this is amending existing law, proposing the addition or removal of words from laws that are already on the books.
Words that are highlighted in yellow are
proposed additions, and words that are crossed out in
red are proposed removals.
The numbers with the § symbol before them are references to existing laws, and if you click on them they’ll take you to that part of the law on the state's website.