Credit life insurance; disclosure requirement. (HB77)

Introduced By

Del. Lee Ware (R-Powhatan)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Credit life insurance disclosures.  Requires that a debtor, when buying a credit life insurance policy purchased in conjunction with a closed end loan, shall be provided with a notice of his right to a refund if the insurance is terminated prior to its scheduled maturity or the insured indebtedness is terminated or paid off early. The same disclosure requirement currently exists for insurance contracts on a debtor paid by a single premium. Read the Bill »


Bill Has Passed


12/30/2009Prefiled and ordered printed; offered 01/13/10 10102631D
12/30/2009Referred to Committee on Commerce and Labor
01/28/2010Reported from Commerce and Labor with substitute (22-Y 0-N) (see vote tally)
01/28/2010Committee substitute printed 10104296D-H1
02/01/2010Impact statement from SCC (HB77)
02/01/2010Read first time
02/02/2010Read second time
02/02/2010Committee substitute agreed to 10104296D-H1
02/02/2010Engrossed by House - committee substitute HB77H1
02/03/2010Read third time and passed House BLOCK VOTE(98-Y 0-N)
02/03/2010Read third time and passed House BLOCK VOTE (98-Y 0-N)
02/03/2010VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
02/04/2010Constitutional reading dispensed
02/04/2010Referred to Committee on Commerce and Labor
02/21/2010Impact statement from SCC (HB77H1)
02/22/2010Reported from Commerce and Labor (14-Y 0-N) (see vote tally)
02/24/2010Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/25/2010Read third time
02/25/2010Passed Senate (40-Y 0-N) (see vote tally)
03/03/2010Bill text as passed House and Senate (HB77ER)
03/03/2010Signed by Speaker
03/04/2010Impact statement from SCC (HB77ER)
03/06/2010Signed by President
04/07/2010G Approved by Governor-Chapter 211 (effective 7/1/10)
04/07/2010G Acts of Assembly Chapter text (CHAP0211)


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 45 seconds.