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2010 SESSION
SB 154 Inflationary effects; increasing various costs, fees, etc., penalties.
Introduced by: John S. Edwards | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Increasing various costs, fees, penalties, etc. Increases the amounts of various costs, potential attorney fee awards, potential damages, jurisdictional amounts, and other dollar-based provisions in the Virginia Code to account for the effect of inflation. As introduced, this bill was a recommendation of the Boyd-Graves Conference.
SUMMARY AS INTRODUCED:
Increasing various costs, fees, penalties, etc. Increases the amounts of various costs, fees, potential damages, jurisdictional amounts, and other dollar-based provisions in the Virginia Code to account for the effect of inflation. The bill also increases the threshold amount for when a contract must be in writing under statute of frauds contained in the Uniform Commercial Code (UCC) as adopted in Virginia to match the current UCC amount. This bill is a recommendation of the Boyd-Graves Conference.