Deposit accounts and certificates of deposit; statute of limitations. (HB193)

Introduced By

Del. Terry Kilgore (R-Gate City) with support from co-patrons Del. Kris Amundson (D-Mount Vernon), Del. Tim Hugo (R-Centreville), Del. Bill Janis (R-Glen Allen), and Del. Steve Shannon (D-Vienna)

Progress

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

Description

Negotiable instruments; enforcement and satisfaction. Establishes the date from which the six-year limitations period on actions to enforce a right under a deposit account or a certificate of deposit starts to toll. The measure will become effective on January 1, 2007, and will be effective retroactively. However, a person with a cause of action that accrued after January 1, 1997, shall have until January 1, 2013, or until the end of the six-year period specified in the measure, whichever is longer, to bring an action to enforce the bank's obligations. The measure also provides that a person does not act in good faith when tendering a check in full satisfaction of an obligation under a loan if the check is for less than the full amount due and the check is tendered to a person without knowledge of a dispute concerning the loan. Read the Bill »

Status

04/05/2006: signed by governor

History

DateAction
01/03/2006Prefiled and ordered printed; offered 01/11/06 066544372
01/03/2006Referred to Committee on Commerce and Labor
01/26/2006Reported from Commerce and Labor with amendment (20-Y 1-N)
01/30/2006Read first time
01/31/2006Read second time
01/31/2006Committee amendment agreed to
01/31/2006Engrossed by House as amended HB193E
01/31/2006Printed as engrossed 066544372-E
02/01/2006Read third time and passed House (99-Y 0-N)
02/01/2006VOTE: PASSAGE (99-Y 0-N)
02/01/2006Communicated to Senate
02/02/2006Constitutional reading dispensed
02/02/2006Referred to Committee on Commerce and Labor
02/27/2006Reported from Commerce and Labor with substitute (14-Y 0-N)
02/28/2006Committee substitute printed 062773372-S1
03/01/2006Constitutional reading dispensed (39-Y 0-N)
03/01/2006VOTE: (39-Y 0-N)
03/01/2006Motion to reconsider pass by for the day agreed to (40-Y 0-N)
03/01/2006Passed by for the day (40-Y 0-N)
03/01/2006VOTE: (40-Y 0-N)
03/02/2006Read third time
03/02/2006Reading of substitute waived
03/02/2006Committee substitute agreed to 062773372-S1
03/02/2006Engrossed by Senate - committee substitute HB193S1
03/02/2006Passed Senate with substitute (39-Y 0-N)
03/02/2006VOTE: (39-Y 0-N)
03/03/2006Placed on Calendar
03/06/2006Senate substitute agreed to by House (99-Y 0-N)
03/06/2006VOTE: ADOPTION (99-Y 0-N)
03/15/2006Bill text as passed House and Senate (HB193ER)
03/15/2006Enrolled
03/15/2006Signed by Speaker
03/16/2006Signed by President
04/05/2006G Approved by Governor-Chapter 624 (effective - see bill)
04/14/2006G Acts of Assembly Chapter text (CHAP0624)