Leases; prohibited covenants. (HB1467)

Introduced By

Del. Steve Shannon (D-Vienna)

Progress

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

Description

Property and conveyances; leases; prohibited covenants. Prohibits any lease for nonresidential property agreed to, executed or renewed on or after July 1, 2008, that contains a covenant restricting the lessor from entering into additional leases with additional parties that compete with the lessee's lines of business, unless the additional party's intended lines of business are in direct competition with no less than a majority of the lessee's lines of business. The bill provides that a lease in violation of this prohibition shall be deemed a prohibited contract in restraint of trade. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/15/2008Committee
01/15/2008Presented and ordered printed 088752724
01/15/2008Referred to Committee on General Laws
02/12/2008Left in General Laws