Cancellation of property insurance policy; authorizes on grounds of foreclosure of deed of trust. (HB1887)

Introduced By

Del. Sam Nixon (R-Richmond)

Progress

√
 Introduced
√
 Passed Committee
√
 Passed House
√
 Passed Senate
√
 Signed by Governor
√
 Became Law

Description

Cancellation of property insurance policy upon foreclosure. Authorizes the cancellation of a policy insuring an owner-occupied dwelling on grounds that the property secured by the policy has been sold pursuant to foreclosure of a deed of trust encumbering the property. Amends § 38.2-2114 (“Grounds and procedure for termination of policy; contents of notice; review by Commissioner; exceptions; immunity from liability.”), of the Code of Virginia. View Full Text »

Outcome

Bill Has Passed
View Bill's History