Credit insurance; require that debtors be provided with notice disclosing right to refund premium. (HB1972)

Introduced By

Del. Lee Ware (R-Powhatan)

Progress

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

Description

Credit insurance. Requires that debtors under credit property insurance, credit involuntary unemployment insurance, credit life insurance, and credit accident and sickness insurance paid by a single premium be provided with a notice disclosing the right to a refund of premium if the insurance is terminated prior to its scheduled maturity date or the insured debt is terminated or paid off early, and of the debtor's obligation to notify the insurer of certain events. The minimum amount of a refund is increased from $1 to $5. Policies and certificates are required to include a notice advising the debtor of his rights and the insurer's obligations regarding premium refunds. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/13/2009Committee
01/13/2009Prefiled and ordered printed; offered 01/14/09 098466780
01/13/2009Referred to Committee on Commerce and Labor
01/18/2009Impact statement from SCC (HB1972)
01/27/2009Reported from Commerce and Labor with amendments (22-Y 0-N) (see vote tally)
01/29/2009Read first time
01/30/2009Read second time
01/30/2009Committee amendments agreed to
01/30/2009Engrossed by House as amended HB1972E
01/30/2009Printed as engrossed 098466780-E
02/02/2009Read third time and passed House BLOCK VOTE (97-Y 0-N)
02/02/2009VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally)
02/02/2009Reconsideration of passage agreed to by House
02/02/2009Passed House BLOCK VOTE (98-Y 0-N)
02/02/2009VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
02/03/2009Constitutional reading dispensed
02/03/2009Referred to Committee on Commerce and Labor
02/05/2009Impact statement from SCC (HB1972E)
02/16/2009Reported from Commerce and Labor (15-Y 0-N) (see vote tally)
02/18/2009Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/19/2009Read third time
02/19/2009Passed Senate (40-Y 0-N) (see vote tally)
02/24/2009Enrolled
02/24/2009Bill text as passed House and Senate (HB1972ER)
02/24/2009Impact statement from SCC (HB1972ER)
02/25/2009Signed by Speaker
02/27/2009Signed by President
03/30/2009G Approved by Governor-Chapter 643 (effective 7/1/09)
03/30/2009G Acts of Assembly Chapter text (CHAP0643)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 1 minute.