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2005 SESSION

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054228724
SENATE BILL NO. 875 AMENDMENT IN THE NATURE OF A SUBSTITUTE (Proposed by the House Committee on Commerce and Labor on February 15, 2005) (Patron Prior to Substitute--Senator Deeds) A BILL to amend the Code of Virginia by adding a section numbered 6.1-2.23:2, relating to the Consumer Real Estate Settlement Protection Act; settlement agents; certain charges limited.

Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding a section numbered 6.1-2.23:2 as follows:

§ 6.1-2.23:2. Separate charge for reporting transactions limited.

No settlement agent shall charge any party to a real estate transaction, as a separate item on a settlement statement, a sum exceeding $20 for complying with any requirement imposed on the settlement agent by § 58.1-316 or § 58.1-317.