AMENDMENT(S) PROPOSED BY THE HOUSE

COMMERCE AND LABOR

1. Line 345, introduced, after (20)

strike

the remainder of line 345 and all of line 346

insert

“Good faith” means honesty in fact in the conduct or transaction concerned.

COMMERCE AND LABOR

2. Line 502, introduced, after (a)

strike

the remainder of line 502 and all of lines 503 through 505 and through (b) on line 506

COMMERCE AND LABOR

3. Line 508, introduced

strike

(c)

insert

(b)

COMMERCE AND LABOR

4. Line 508, introduced, after section

strike

the remainder of line 508 and all of lines 509 through 531 and through (g) on line 532

insert

when a transaction bears a reasonable relation to this state and also to another state or nation the parties may agree that the law either of this state or such other state or nation shall govern their rights and duties.

(c) In the absence of an agreement effective under subsection (b), the rights and obligations of the parties are determined by the law that would be selected by application of this State’s conflict of laws principles.

(d)

COMMERCE AND LABOR

5. Line 541, introduced, after (7)

insert

Applicability of the title on investment securities. § 8.8A-110;

(8)

COMMERCE AND LABOR

6. Line 622, introduced, after (b)

insert

“Good faith” in the case of a merchant means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.

COMMERCE AND LABOR

7. Line 623, introduced, after trade.

strike

[RESERVED.]

COMMERCE AND LABOR

8. Line 785, introduced

insert

“Good faith” § 8.2-103 (1) (b).

COMMERCE AND LABOR

9. Line 907, introduced, after (4)

insert

“Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing.

COMMERCE AND LABOR

10. Line 908, introduced, after dealing.

strike

[Reserved.]

COMMERCE AND LABOR

11. Line 1024, introduced

insert

“Good faith” § 8.3A-103.

COMMERCE AND LABOR

12. Line 1055, introduced, after (6)

insert

“Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing.

COMMERCE AND LABOR

13. Line 1056, introduced, after dealing.

strike

[Reserved.]

COMMERCE AND LABOR

14. Line 1353, introduced, after (10)

insert

“Good faith,” for purposes of the obligation of good faith in the performance or enforcement of contracts or duties within this title, means honesty in fact and the observance of reasonable commercial standards of fair dealing.

COMMERCE AND LABOR

15. Line 1355, introduced, after dealing.

strike

[Reserved.]

COMMERCE AND LABOR

16. Line 1555, introduced, after (43)

insert

“Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing.

COMMERCE AND LABOR

17. Line 1556, introduced, after dealing.

strike

[Reserved.]