Open-end credit plans; governing law. (SB1290)

Introduced By

Sen. Dick Saslaw (D-Springfield)

Progress

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

Description

Open-end credit plans; governing law. Provides that an open-end credit plan shall be governed solely by federal law and the laws of the Commonwealth, regardless of whether the seller or lender has a physical location in the Commonwealth. The measure removes a provision that allows another jurisdiction's laws to govern if expressly agreed in writing by the parties. Amends § 6.2-435, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/07/2019Prefiled and ordered printed; offered 01/09/19 19103712D
01/07/2019Referred to Committee on Commerce and Labor
01/14/2019Impact statement from SCC (SB1290)
01/28/2019Failed to report (defeated) in Commerce and Labor (5-Y 7-N 1-A) (see vote tally)

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