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2002 SESSION

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024547540
SENATE BILL NO. 555 AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by the Senate Committee for Courts of Justice on February 6, 2002) (Patron Prior to Substitute--Senator Stosch) A BILL to amend the Code of Virginia by adding a section numbered 8.01-221.1, relating to lost profits of unestablished business.

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 8.01-221.1 as follows:

§ 8.01-221.1. Unestablished business damages; lost profits.

Damages for lost profits of a new or unestablished business may be recoverable upon proper proof. A party shall not be deemed to have failed to prove lost profits because the new or unestablished business has no history of profits. Such damages for a new or unestablished business shall not be recoverable in wrongful death or personal injury actions other than actions for defamation.