Insurance; SCC to require person to make restitution if improperly withholds money. (HB260)
Introduced By
Del. Jennifer McClellan (D-Richmond)
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
Insurance; restitution. Authorizes the State Corporation Commission to require a person to make restitution in the amount of the direct actual financial loss if the person improperly withholds, misappropriates, or converts any money or property received in the course of conducting business. Currently, the Commission's authority to order restitution is limited to cases where an insurer charges an excessive rate or discriminatory premium or fails to pay undisputed amounts required under an insurance contract. Amends § 38.2-218, of the Code of Virginia. View Full Text »
Outcome
Bill Has Passed
History
- 01/11/2010 Committee
- 01/11/2010 Prefiled and ordered printed; offered 01/13/10 10100732D
- 01/11/2010 Referred to Committee on Commerce and Labor
- 01/19/2010 Reported from Commerce and Labor (22-Y 0-N) (see vote tally)
- 01/20/2010 Read first time
- 01/21/2010 Read second time and engrossed
- 01/22/2010 Read third time and passed House BLOCK VOTE (99-Y 0-N)
- 01/22/2010 VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
- 01/25/2010 Constitutional reading dispensed
- 01/25/2010 Referred to Committee on Commerce and Labor
- 02/02/2010 Impact statement from SCC (HB260)
- 02/22/2010 Reported from Commerce and Labor (15-Y 0-N) (see vote tally)
- 02/24/2010 Constitutional reading dispensed (40-Y 0-N) (see vote tally)
- 02/25/2010 Read third time
- 02/25/2010 Passed Senate (40-Y 0-N) (see vote tally)
- 03/03/2010 Enrolled
- 03/03/2010 Bill text as passed House and Senate (HB260ER)
- 03/03/2010 Signed by Speaker
- 03/04/2010 Impact statement from SCC (HB260ER)
- 03/06/2010 Signed by President
- 04/07/2010 G Approved by Governor-Chapter 226 (effective 7/1/10)
- 04/07/2010 G Acts of Assembly Chapter text (CHAP0226)