Flood insurance; escrow accounts. (HB1399)
Introduced By
Del. Sam Rasoul (D-Roanoke) with support from co-patron Sen. John Edwards (D-Roanoke)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Escrow accounts for flood insurance. Requires a lender, upon written request by the borrower, to establish and maintain an escrow account for flood insurance premiums. The requirement applies to loans secured by certain residential real estate in Virginia. In addition, the requirement applies only if the lender has established escrow accounts for taxes, hazard insurance, fees, or other charges with respect to property securing the loan. Read the Bill »
Outcome
Bill Has Failed
History
| Date | Action |
|---|---|
| 12/17/2014 | Committee |
| 12/17/2014 | Prefiled and ordered printed; offered 01/14/15 15100659D |
| 12/17/2014 | Referred to Committee on Commerce and Labor |
| 01/08/2015 | Impact statement from SCC (HB1399) |
| 01/20/2015 | Assigned C & L sub: Subcommittee #1 |
| 01/27/2015 | Subcommittee failed to recommend reporting (2-Y 7-N) |
| 02/10/2015 | Left in Commerce and Labor |