Open-end credit agreements; sellers of certain goods to extend credit. (SB165)

Introduced By

Sen. Scott Surovell (D-Mount Vernon) with support from co-patron Sen. Janet Howell (D-Reston)

Progress

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

Description

Open-end credit agreements. Allows only sellers of goods to be used for personal, family, or household purposes to extend credit under an open-end credit agreement. Such extensions of credit may be made only to the purchaser of the goods for the sole purpose of financing the bona fide purchase price of such goods. Amends § 6.2-312, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
12/30/2015Prefiled and ordered printed; offered 01/13/16 16100865D
12/30/2015Referred to Committee on Commerce and Labor
01/12/2016Impact statement from SCC (SB165)
01/25/2016Failed to report (defeated) in Commerce and Labor (4-Y 9-N 1-A) (see vote tally)