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2009 SESSION

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Senate Committee on Commerce and Labor

Chairman: Richard L. Saslaw

Clerk: Cheryl Law
Staff: Frank Munyan
Date of Meeting: February 16, 2009
Time and Place: Monday/1/2 hour after adjournment/Senate room B, GAB

H.B. 1636 Telephone utilities; SCC authorized to make changes to certain certificated service territories.

Patron: Saxman

Telephone utilities; certificated service territories.  Authorizes the State Corporation Commission to make changes to a local exchange carrier's incumbent certificated service territory at the request of those incumbent local exchange carriers that are directly involved in a proposed change in the certificated service territory.

A BILL to amend and reenact § 56-265.4:4 of the Code of Virginia, relating to certificated service territories of telephone utilities.

097834712

Impact Statements

H.B. 1649 Telegraph or telephone companies; not required to accept franchise, etc., that restricts services.

Patron: Ware, R.L.

Telephone and cable lines; right-of-way contracting.  Prohibits a telegraph or telephone company or cable operator from being required to accept an interest, franchise, privilege, or easement for a right-of-way for its poles, other structures and facilities that restrict the services that may be offered legally by the company or operator.

A BILL to amend and reenact § 56-463 of the Code of Virginia, relating to contracts by telegraph and telephone companies and cable operators for rights-of-way.

098077780

Impact Statements

H.B. 1674 Workers' Compensation; pharmacist filling a prescription to dispense therapeutically equivalent.

Patron: Purkey

Workers' Compensation; use of therapeutically equivalent drug products.  Requires a pharmacist filling a prescription for medication for a workers' compensation claim to dispense a therapeutically equivalent drug product for a prescribed name-brand drug product. However, the pharmacist shall fill the prescription with the name-brand drug product prescribed if (i) a therapeutically equivalent drug product does not exist or the usual and customary retail price for it is higher than that of the prescribed name-brand drug product or (ii) the prescriber specifies on the prescription "brand medically necessary" based on a medical reason why the claimant should not have the prescription filled with a therapeutically equivalent drug product. A prescriber may direct that a prescription is "brand medically necessary" by verbal instructions in a telephone call. The costs of prescribed medication prescribed in connection with a compensable claim are not the responsibility of the claimant unless the prescription is obtained through fraud. SB 1158 is identical.

A BILL to amend the Code of Virginia by adding a section numbered 65.2-603.1, relating to the use of therapeutically equivalent drug products by workers' compensation claimants.

096583692

Impact Statements

H.B. 1698 Scrap metal processors; law-enforcement officer right to inspect, notice prior to inspection.

Patron: Lohr

Scrap metal processors.  Authorizes law-enforcement officers during the regular business hours of a scrap metal processor to inspect, without a warrant or subpoena, any scrap metal in the possession of a scrap metal processor, any records required to be maintained by a scrap metal processor, or both.  The bill also adds catalytic converters to the list of proprietary articles for which heightened scrutiny is required prior to sale to a scrap metal processor.

A BILL to amend and reenact § 59.1-136.1 of the Code of Virginia and to amend the Code of Virginia by adding a section numbered 59.1-136.3:1, relating to scrap metal processors.

094521604

Impact Statements

H.B. 1756 Workers' compensation insurance; written agreement approved by State Corporation Commission.

Patron: Hargrove

State Corporation Commission; local government self-insurance pools; workers' compensation insurance.  Establishes a mechanism for the merger of the local government group self-insurance association and local government group self-insurance pool, for the purpose of allowing political subdivisions of the Commonwealth to provide workers' compensation insurance coverage for their employees. SB 1372 is identical.

A BILL to amend and reenact §§ 15.2-2703, 65.2-801, and 65.2-1203 of the Code of Virginia, relating to workers' compensation insurance; local government group health insurance pools.

098650532

Impact Statements

H.B. 1776 Mortgage Lender and Broker Act; broker duties and liability. 

Patron: McClellan

Mortgage Lender and Broker Act; broker duties and liability.  Imposes upon mortgage brokers the duty to make reasonable efforts to secure a loan that is in the best interests of the borrower considering borrower circumstances and loan characteristics, including the product type, rates, charges, and repayment terms of the loan. use reasonable skill, care, and diligence. The measure authorizes a borrower who has suffered a loss as a result of a breach of this duty to bring an action to recover actual damages, attorney fees, and court costs.

A BILL to amend and reenact §§ 6.1-422 and 6.1-431 of the Code of Virginia, relating to the Mortgage Lender and Broker Act; duties and liabilities.

090316624

Impact Statements

H.B. 1819 Electric rates; any distribution electric cooperative, without SCC approval, to make adjustment.

Patron: Kilgore

Electric rates of distribution cooperatives.  Authorizes any distribution electric cooperative, upon an affirmative resolution of the cooperative's board of directors, and without State Corporation Commission approval, to make any adjustment to its rates reasonably calculated to collect any or all of the fixed costs of owning and operating its electric distribution system through a new or modified fixed monthly charge.  Such monthly charge would be in lieu of charges that are based on the volume of use of electric energy.  Such changes in rates shall be revenue neutral based on the cooperative's determination of the proper intra-class allocation of the revenues produced by its then-current rates.  Adjustments may be phased in over a three-year period, and revised tariffs are required to be filed with the State Corporation Commission for information purposes.

A BILL to amend and reenact § 56-585.3 of the Code of Virginia, relating to rates of distribution electric cooperatives.

090156588

Impact Statements

H.B. 1884 Credit reports; consumer reporting agency's duty to place security freeze thereon.

Patron: Nixon

Credit reports; security freezes.  Provides that a consumer reporting agency's duty to place a security freeze on a consumer's credit report within one business day after receiving such a request, which is scheduled to become effective July 1, 2009, will apply only if the consumer's request is made electronically at an address designated by the consumer reporting agency to receive such requests.  For requests not made electronically at such address, the current obligation that the freeze be imposed within three business days after receiving the consumer's request will continue to apply.

A BILL to amend and reenact § 59.1-444.2 of the Code of Virginia, relating to requests to impose security freezes on credit reports.

090025656

H.B. 1885 Telephone regulatory alternatives; determination of competitiveness. 

Patron: Nixon

Telephone regulatory alternatives; determination of competitiveness.  Requires the State Corporation Commission, when determining whether the telephone services of a telephone company are competitive, to consider all wireless communications providers that offer voice communications services to be facilities-based competitors owning wireline network facilities and reasonably meeting the needs of consumers.  The measure also requires the Commission, if it determines that 75 percent or more of residential households or businesses in a telephone company’s incumbent territory are in areas that are competitive for a telephone service, to expand, for that telephone service throughout the company’s incumbent territory, its competitive determination.  In such cases, the Commission is further required to apply the same regulatory treatment already adopted for that telephone service in competitive areas.  The same regulatory treatment shall be applied if a telephone company provides 90 percent or more of its residential and business lines access to fiber-optic or copper-based broadband service within an exchange area.

A BILL to amend and reenact § 56-235.5 of the Code of Virginia, relating to telephone regulatory alternatives.

090021656

Impact Statements

H.B. 1886 Money order sales and transmission services; expands existing authority of SCC to regulate.

Patron: Nixon

Money order sales and money transmission services.  Expands the existing authority of the State Corporation Commission to regulate money order sellers and money transmitters. The measure includes provisions that, among other things, mandate examinations of licensees every three years; increase the license application fee from $500 to $1,000; require annual renewal of licenses with a $750 license renewal fee and an assessment to defray examination and supervision costs; increase minimum net worth requirements from $100,000 to $200,000; establish procedures for license revocation; authorize the Commission to issue cease and desist orders; establish requirements for agreements between a licensee and its authorized delegates; increase the maximum penalty that the Commission may assess for violations from $1,000 to $2,500; establish record retention requirements; establish additional reporting requirements; and require licensees to maintain permissible investments that have a market value of not less than the aggregate dollar amount of all of its outstanding money orders and money transmission transactions. The measure also requires licensees to conduct a due diligence review of all new authorized delegates and to implement and maintain a risk-based supervision program to monitor its authorized delegates. Finally, the measure regulates the type of investments that licensees are required to maintain.

A BILL to amend and reenact §§ 6.1-370 through 6.1-374, 6.1-375, 6.1-377, 6.1-378, 6.1-378.2, 6.1-378.3, and 6.1-378.4 of the Code of Virginia and to amend the Code of Virginia by adding sections numbered 6.1-374.1, 6.1-374.2, and 6.1-378.5 through 6.1-378.8, relating to money order sales and money transmission services.

090179656

Impact Statements

H.B. 1887 Cancellation of property insurance policy; authorizes on grounds of foreclosure of deed of trust.

Patron: Nixon

Cancellation of property insurance policy upon foreclosure.  Authorizes the cancellation of a policy insuring an owner-occupied dwelling on grounds that the property secured by the policy has been sold pursuant to foreclosure of a deed of trust encumbering the property.

A BILL to amend and reenact § 38.2-2114 of the Code of Virginia, relating to foreclosure as grounds for cancellation of property insurance policy.

090031656

Impact Statements

H.B. 1889 Unemployment benefits; minimum earnings requirement.

Patron: Nixon

Unemployment benefits; minimum earnings requirement.  Postpones the scheduled increase, from $2,700 to $3,000, in the minimum amount of wages an employee must have earned in the two highest earnings quarters of his base period in order to be eligible for unemployment benefits. The increase will apply to claims filed on or after July 4, 2010; it is currently scheduled to apply to claims filed on or after July 5, 2009.

A BILL to amend and reenact § 60.2-602 of the Code of Virginia, relating to unemployment compensation; weekly benefit amounts.

090022656

Impact Statements

H.B. 1935 Confidentiality of insurance information; provides therefor of company licensing applications, etc.

Patron: Plum

Confidentiality of insurance information.  Provides for the confidentiality of company licensing applications and supporting documentation received by the State Corporation Commission. The requirement for confidential treatment extends to information obtained by the Commission or any other person in the course of an investigation or a review of a licensing application.

A BILL to amend the Code of Virginia by adding a section numbered 38.2-221.3, relating to the confidentiality of certain insurance information.

090042864

Impact Statements

H.B. 1957 Limited liability companies; may change its principal office by filing statement of change on form.

Patron: Mathieson

Limited liability companies; registered office and principal office.  Allows a limited liability company to charge its principal office on the records of the State Corporation Commission by filing a form prescribed for such purpose. The most recent designation of principal office shall be conclusive for purposes of the Limited Liability Company Act. The measure makes a technical correction regarding the registered office of a limited liability company. The measure will be effective April 1, 2010.

A BILL to amend and reenact §§ 13.1-1002, 13.1-1016, 13.1-1055, and 13.1-1065 of the Code of Virginia and to amend the Code of Virginia by adding in Article 3 of Chapter 12 of Title 13.1 a section numbered 13.1-1018.1, relating to registered offices and principal offices of limited liability companies.

090164618

Impact Statements

H.B. 1964 Banking institutions; reclassification or conversion of shares of stock.

Patron: Saxman

Banking institutions; reclassification or conversion of shares.  Authorizes a bank, savings institution, bank holding company, savings and loan holding company, or multiple or diversified savings and loan holding company organized as a stock corporation to reclassify or convert a portion of its issued and outstanding shares of common stock into a class or series of preferred stock for the purpose of ceasing to be, or avoiding the status of, an institution that is required to file periodic reports under provisions of the Securities Exchange Act of 1934, if authorized by its articles of incorporation and the reclassified or converted shares continue to be part of the equity capital of the corporation.  Such a reclassification or conversion is exempt from appraisal rights provisions of the Stock Corporation Act if the institution's directors recommend the approval, the shareholders approve the amendment, all shares are reclassified or converted on the same terms, and articles of amendment are filed.  SB 884 is identical.

A BILL to amend the Code of Virginia by adding a section numbered 6.1-2.7:1, relating to the reclassification or conversion of shares of stock of banking institutions.

090152712

Impact Statements

H.B. 1970 Underground distribution system; delivery of propane service.

Patron: Ware, R.L.

Utility Facilities Act; delivery of propane service.  Excludes any company that provides non-utility gas service from the definition of a "public utility" for purposes of the Utility Facilities Act.  The State Corporation Commission may authorize a person to provide non-utility gas service to (i) two or more residential or commercial customers located one-half mile or less from any existing underground natural gas line operated by a regulated utility; (ii) more than 10 residential or two commercial customers located more than one-half mile but within one mile or less from any existing underground natural gas line operated by a regulated utility; (iii) more than 20 residential or five commercial customers located more than one mile but within three miles or less from any existing underground natural gas line operated by a regulated utility; or (iv) more than 50 residential or 10 commercial customers located more than three miles but no more than five miles from an existing underground natural gas line operated by a regulated utility, if the Commission finds that (a) the natural gas utility that holds the certificate to provide natural gas service in the defined geographic area proposed to be served is not currently offering service to the area and is unable to extend natural gas utility service to the requested area within a reasonable period of time, and (b) the proposed provision of non-utility gas service is in the public interest.  Non-utility gas service providers are required to comply with all pipeline safety standards.  The measure also provides that the provision of non-utility gas service without SCC approval is punishable by a penalty of up to $500 per day.  HB 2081 is incorporated. The measure declares that an emergency exists and it will be effective upon enactment.

A BILL to amend and reenact § 56-265.1 of the Code of Virginia and amend the Code of Virginia by adding sections numbered 56-265.4:6 and 56-265.4:10, relating to the delivery of propane service by an underground distribution system.

090139780

EMERGENCY

Impact Statements

H.B. 1971 Credit life insurance; reserve standards.

Patron: Ware, R.L.

Credit life insurance reserve standards.  Recognizes the 2001 CSO Male Composite Ultimate Mortality Table for use in determining the minimum standard of valuation for credit life insurance reserves, and the 1985 Commissioners' Individual Disability Table A in determining the standard for valuation of reserves for credit accident and sickness plans. The measure also specifies the interest rate and method to be used in determining the minimum standard of valuation. In addition, for credit life and disability contracts in the aggregate, insurers are required to establish an additional reserve liability if the net premium refund liability exceeds the aggregate recorded contract reserve.

A BILL to amend and reenact § 38.2-3723 of the Code of Virginia, relating to reserve standards for credit insurance.

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Impact Statements

H.B. 1972 Credit insurance; require that debtors be provided with notice disclosing right to refund premium.

Patron: Ware, R.L.

Credit insurance.  Requires that a disclosure notice be provided to debtors on credit property, credit involuntary unemployment, credit life, and credit accident and sickness insurance policies. No insurance contract upon a debtor paid by a single premium shall be made unless the debtor is provided with a notice disclosing the right to a refund of premium if the insurance is terminated prior to its scheduled maturity date or the insured debt is terminated or paid off early, and of the debtor's obligation to notify the insurer of certain events. The minimum amount of a refund is increased from $1 to $5. Policies and certificates are required to include a notice advising the debtor of his rights and the insurer's obligations regarding premium refunds. The State Corporation Commission shall not approve a form for credit property or credit involuntary unemployment insurance paid by a single premium unless the policy or certificate states that the unearned premium refund will be calculated on a pro rata basis.

A BILL to amend and reenact §§ 38.2-233, 38.2-3724, 38.2-3729, 38.2-3735, and 38.2-3737 of the Code of Virginia, relating to credit insurance.

098466780

Impact Statements

H.B. 1974 Crash prevention courses; reduction in rates for certain persons attending.

Patron: Ware, R.L.

Crash prevention courses for those 55 years and older. Authorizes the Department of Motor Vehicles to approve a crash prevention course for drivers 55 or older that is delivered through a computer-based medium, if the course sponsor has been approved to provide the course in a classroom setting. Insurers may allow a premium reduction for persons who complete the course provided via the Internet or other electronic means. SB 1013 is identical.

A BILL to amend and reenact § 38.2-2217 of the Code of Virginia, relating to reduction in rates for certain persons attending motor vehicle crash prevention courses.

090159780

Impact Statements

H.B. 1982 Insurance; makes forms for commercial automobile policies written to large risks eligible.

Patron: McClellan

Insurance; large commercial risks.  Makes forms for commercial automobile insurance policies that are written to large commercial risks eligible for the exemption that currently exists for other insurance of large commercial risks. Currently, forms for writing commercial automobile insurance policies are excluded from the provision that exempts insurance of large commercial risks from requirements that policy forms be filed with, and approved by, the State Corporation Commission. The measure also provides that any officer of the large commercial risk is authorized to sign the required certification regarding compliance with certain requirements; currently, its chief executive officer must sign the certification.

A BILL to amend and reenact § 38.2-1903.1 of the Code of Virginia, relating to policy forms and rates used in the insurance of large commercial risks.

090062624

Impact Statements

H.B. 2002 Energy Plan; promotes use of sustainable biofuels made from traditional agricultural crops, etc.

Patron: Cosgrove

Virginia Energy Plan; biofuels made from nonfood crops.  Amends the Virginia Energy Plan to reorganize the objective of increasing Virginia's reliance on and production of sustainably produced biofuels made from traditional agricultural crops and other feedstocks, and to support the delivery infrastructure needed for statewide distribution to consumers. SB 1427 is identical.

A BILL to amend and reenact §§ 67-101 and 67-102 of the Code of Virginia, relating to the Virginia Energy Plan; biofuels made from nonfood feedstocks.

093087472

Impact Statements

H.B. 2024 Health insurance, basic; allows insurers to offer & sell group policies to those without coverage.

Patron: Marshall, D.W.

Availability of basic health insurance.  Allows health insurers to offer and sell group health insurance policies or contracts that do not include state mandated health insurance benefits to employers with 50 or fewer employees in order to provide coverage for employees who have been uninsured during the preceding six months. Such a group policy or contract may include any, or none, of the state-mandated health benefits as the health insurer and the small employer agree. The measure also provides that a plan of correction prepared by a holder of a certificate of public need for a medical care facility may allow the holder to satisfy the conditions of the certificate regarding the provision of charity care by (i) making direct payments to an organization authorized under a memorandum of understanding with the Department of Health to receive contributions satisfying conditions of a certificate, or (ii) making direct payments to a private nonprofit foundation that funds basic insurance coverage for indigents authorized under a memorandum of understanding with the Department to receive contributions satisfying conditions of a certificate. Finally, the measure states that a health insurance policy or subscription contract may include caps or limits on the total annual or lifetime benefits provided thereunder at specified dollar amounts, which statement is declarative of existing law. Health insurers offering plans under this act are required to report annually to the Bureau of Insurance on the number of small employers and individuals using plans that do not offer mandated benefits, which information shall be compiled, evaluated, and submitted to the Governor and General Assembly. If a plan includes health care services covered by the plan that may be provided by a health care provider who is not a physician, the plan allows for the reimbursement of such covered services by such provider. HB 2209 is incorporated.

A BILL to amend and reenact §§ 32.1-102.4 and 38.2-4214 of the Code of Virginia and to amend the Code of Virginia by adding sections numbered 38.2-3406.1 and 38.2-3406.2, relating to increasing the availability of basic health insurance coverage in the Commonwealth.

090206612

H.B. 2030 Mortgage Lender and Broker Act; eliminates provision that lenders, etc., are required to conduct.

Patron: Marshall, D.W.

Mortgage Lender and Broker Act; employee background checks and training.  Repeals provisions enacted in 2008 that require licensed mortgage lenders and brokers (i) to conduct background checks on employees who may have access to or process personal identifying or financial information from a member of the public and (ii) to ensure that their employees are properly trained in applicable state and federal mortgage lending laws and regulations.

A BILL to repeal §§ 6.1-423.1 and 6.1-423.2 of the Code of Virginia, relating to the Mortgage Lender and Broker Act; employee background checks and training.

090035612

Impact Statements

H.B. 2031 Mortgage loan originators; definition, establishes licensure and registry.

Patron: Marshall, D.W.

Mortgage loan originators.  Prohibits an individual from acting as, or holding himself out to the public as being, a mortgage loan originator on or after July 1, 2010, unless he has obtained a license from the State Corporation Commission (SCC).  The measure implements requirements of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, which allows states to retain regulatory authority over mortgage loan originators if they enact legislation that provides for the licensing and registration of such persons through the Nationwide Mortgage Licensing System and Registry.  The measure establishes licensing procedures and criteria, including requirements for bonding, background checks, education, testing, continuing education, investigations; examinations, reporting, payment of annual fees, license suspension and revocation, and fines.  The measure also provides for the SCC, to the extent practicable, to include in any written memorandum of understanding or other written agreement with the Registry provisions that address information security, disclosure of pending or incompletely adjudicated regulatory matters, licensing tests limited to specific products and services, reports on examination results, privilege or confidentiality of information, and review of the Registry's proposed budget, fees, and audited financial statements.

A BILL to amend the Code of Virginia by adding in Title 6.1 a chapter numbered 16.1, consisting of sections numbered 6.1-431.1 through 6.1-431.21, relating to mortgage loan originators.

090168612

Impact Statements

H.B. 2039 Consumer Protection Act; prohibited practice to sell, offer for sale, etc., recalled product.

Patron: Iaquinto

Virginia Consumer Protection Act; recalled products.  Provides that it is a prohibited practice under the Virginia Consumer Protection Act to sell, offer for sale, or manufacture for sale a children's product that the supplier knows or has reason to know was recalled by the U.S. Consumer Product Safety Commission. The prohibition does not apply to children's products that are used, second-hand or "seconds."

A BILL to amend and reenact §§ 59.1-198 and 59.1-200 of the Code of Virginia, relating to prohibited practices under the Virginia Consumer Protection Act; recalled products.

090208560

Impact Statements

H.B. 2056 Advanced shipbuilding training grant program; established.

Patron: Hamilton

Advanced shipbuilding training grant program.  Establishes a grant program relating to advanced shipbuilding activities involving nuclear warships for the U.S. Navy. Grants would be paid to an eligible shipbuilder based in Newport News that (i) makes a capital investment of at least $300 million; (ii) creates at least 1,000 new full-time jobs; and (iii) maintains an accredited apprenticeship program. A maximum of $50 million in grants would be paid beginning in the 2012-2013 fiscal year and ending in the 2021-2022 fiscal year.

A BILL to amend the Code of Virginia by adding in Title 59.1 a chapter numbered 22.6, consisting of a section numbered 59.1-284.23, relating to an advanced shipbuilding training grant program.

092633528

Impact Statements

H.B. 2086 Retail Franchise Act; replaces references to grants of franchises with sales of franchises.

Patron: Purkey

Virginia Retail Franchise Act.  Replaces references to "grants" of franchises with "sales" of franchises in order to conform Virginia's forms with the terminology used by the Federal Trade Commission and the North American Securities Administrator's Association, Inc. A sale is defined as including every contract or agreement of sale or grant of, contract to sell, or disposition of a franchise or interest in a franchise for value. The measure is emergency legislation to take effect upon passage.

A BILL to amend and reenact §§ 13.1-559, 13.1-560, 13.1-563, 13.1-565, and 13.1-566 of the Code of Virginia, relating to the Virginia Retail Franchising Act; sale of franchise.

090142692

EMERGENCY

Impact Statements

H.B. 2292 Workers' Compensation Act; insurance notices.

Patron: Cline

Workers' Compensation Act; insurance notices.  Authorizes the Workers' Compensation Commission to designate an agent for receipt of insurance-related notices that are required to be given to the Commission by an employer, insurance carrier, or group self-insurance association.  The measure will take effect upon passage.

A BILL to amend and reenact § 65.2-804 of the Code of Virginia, relating to workers' compensation insurance; evidence of compliance.

090048872

EMERGENCY

Impact Statements

H.B. 2332 Enterprise zone economic incentive grants; increases amount of investment made to be eligible.

Patron: Phillips

Enterprise zone economic incentive grants.  Increases from $50,000 to $100,000 the minimum amount of investment required to be made in the rehabilitation or expansion of a building in order to be eligible for an enterprise zone incentive grant, and increases from $250,000 to $500,000 the minimum amount of investment required to be made for new construction in order to be eligible for an enterprise zone incentive grant. The bill would provide that any investor making $5 million or less in qualified real property investment in a building would be allowed a maximum of $100,000 in enterprise zone incentive grants within any five-year period for such building (the current maximum is $125,000). The bill would provide that any investor making more than $5 million in qualified real property investment in a building would be allowed a maximum of $200,000 in enterprise zone incentive grants within any five-year period for such building (the current maximum is $250,000). The bill also makes technical changes.

A BILL to amend and reenact §§ 59.1-280, 59.1-548, and 59.1-549 of the Code of Virginia, and to repeal §§ 59.1-282.1 and 59.1-282.2 of the Code of Virginia, relating to enterprise zone economic incentives.

099808680

Impact Statements

H.B. 2430 Electronic delivery of insurance notices; authorizes insurers to electronically transmit.

Patron: May

Electronic delivery of insurance notices.  Authorizes property, casualty, life, and certain other types of insurers to electronically transmit notices, other than notices of cancellation or termination of a policy, to insureds if the insureds consent. If the parties agree to conduct business by electronic means, the agency of record shall be notified. Copies of electronic notifications are also required to be transmitted to the agent of record not more than 72 hours after the notice is transmitted to the insured.

A BILL to amend and reenact §§ 38.2-231, 38.2-2113, 38.2-2114, 38.2-2208, and 38.2-2212 of the Code of Virginia and to amend the Code of Virginia by adding in Chapter 3 of Title 38.2 a section numbered 38.2-325, relating to the provision of certain insurance notices by electronic transmission.

090213636

Impact Statements