SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2010 SESSION

  • | print version

HB 260 Insurance; SCC to require person to make restitution if improperly withholds money.

Introduced by: Jennifer L. McClellan | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Insurance; restitution.  Authorizes the State Corporation Commission to require a person to make restitution in the amount of the direct actual financial loss if the person improperly withholds, misappropriates, or converts any money or property received in the course of conducting business. Currently, the Commission's authority to order restitution is limited to cases where an insurer charges an excessive rate or discriminatory premium or fails to pay undisputed amounts required under an insurance contract.


FULL TEXT

HISTORY