Real estate settlements; kickbacks and other payments, remedies, penalties. (HB2671)

Introduced By

Del. Wendy Gooditis (D-Clarke) with support from co-patron Del. Marcus Simon (D-Falls Church)

Progress

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

Description

Real estate settlements; kickbacks and other payments; remedies; penalties. Relocates within Title 55 the existing provision that prohibits persons from paying or receiving a kickback, rebate, commission, thing of value, or other payment pursuant to an agreement to refer business incident to a settlement from Chapter 27.2 (Real Estate Settlements) to Chapter 27.3 (Real Estate Settlement Agents). This relocation authorizes the State Corporation Commission to impose penalties, issue injunctions, and require restitution in cases where a person who does not hold a license from the appropriate licensing authority has violated the provision. The measure also adds to Chapter 27.3 of Title 55 provisions that (i) authorize a court to assess civil penalties of not more than $2,500 per violation of the chapter and (ii) authorize the recovery of costs and reasonable expenses and attorney fees. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/11/2019Committee
01/11/2019Presented and ordered printed 19100165D
01/11/2019Referred to Committee on Commerce and Labor
01/17/2019Assigned C & L sub: Subcommittee #2
01/27/2019Impact statement from SCC (HB2671)
01/29/2019Subcommittee recommends laying on the table (5-Y 2-N)
02/05/2019Left in Commerce and Labor