Foreign title insurance companies; unearned premium reserves. (HB116)
Introduced By
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Foreign title insurance companies; unearned premium reserves. Authorizes foreign title insurance companies to establish and maintain unearned premium reserves on title insurance policies issued on Virginia properties pursuant to the reserving laws of the companies' domiciliary regulator, if the domiciliary regulator is accredited under the National Association of Insurance Commissioner's Financial Regulation Standards and Accreditation Program. Currently, foreign title insurance companies are required to maintain unearned premium reserves at the higher of the amount required of domestic title insurance companies or the amount required in the jurisdiction of domicile. Read the Bill »
Outcome
Bill Has Passed
History
| Date | Action |
|---|---|
| 12/17/2007 | Committee |
| 12/17/2007 | Prefiled and ordered printed; offered 01/09/08 084493780 |
| 12/17/2007 | Referred to Committee on General Laws |
| 01/17/2008 | Assigned GL sub: Housing |
| 01/22/2008 | Referred from General Laws |
| 01/22/2008 | Referred to Committee on Commerce and Labor |
| 01/22/2008 | Impact statement from SCC (HB116) |
| 01/29/2008 | Reported from Commerce and Labor (21-Y 0-N) (see vote tally) |
| 01/31/2008 | Read first time |
| 02/01/2008 | Read second time and engrossed |
| 02/04/2008 | Read third time and passed House BLOCK VOTE (98-Y 0-N) |
| 02/04/2008 | VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally) |
| 02/04/2008 | Communicated to Senate |
| 02/05/2008 | Constitutional reading dispensed |
| 02/05/2008 | Referred to Committee on Commerce and Labor |
| 02/18/2008 | Reported from Commerce and Labor (15-Y 0-N) |
| 02/20/2008 | Constitutional reading dispensed (40-Y 0-N) |
| 02/21/2008 | Read third time |
| 02/21/2008 | Passed Senate (39-Y 0-N) |
| 02/21/2008 | Reconsideration of Senate passage agreed to by Senate (39-Y 0-N) |
| 02/21/2008 | Passed Senate (40-Y 0-N) (see vote tally) |
| 02/25/2008 | Enrolled |
| 02/25/2008 | Bill text as passed House and Senate (HB116ER) |
| 02/25/2008 | Signed by Speaker |
| 02/26/2008 | Signed by President |
| 02/27/2008 | Impact statement from SCC (HB116ER) |
| 03/04/2008 | G Approved by Governor-Chapter 246 (effective 7/1/08) |
| 03/04/2008 | G Approved by Governor-Chapter 248 (effective 7/1/08) |
| 03/06/2008 | G Acts of Assembly Chapter text (CHAP0248) |