Insurance; SCC to require person to make restitution if improperly withholds money. (HB260)
Introduced By
Sen. Jennifer McClellan (D-Richmond)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
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. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
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) |