GOVERNOR'S RECOMMENDATION

1. Page 2, enrolled, beginning in the ninth line, after 7.

strike

the remainder of line 9 through the end of the bill

insert

A claimant shall not be denied recovery from the Fund due to the fact the order for the judgment filed with the verified claim does not contain a specific finding of "improper or dishonest conduct." Any language in the order which supports the conclusion that the court found that the conduct of the regulant involved improper or dishonest conduct may be used by the Board to determine eligibility for recovery from the fund.

B. If the regulant has filed bankruptcy, the claimant shall file a claim with the proper bankruptcy court. If no distribution is made, the claimant may then file a claim with the Board. The Board shall determine (i) whether the conduct that gave rise to the claim was improper or dishonest and (ii) what amount, if any, such claimant is entitled to recover from the Fund.

2. That the provisions of this act shall be applicable to all claims arising on or after January 1, 1992.

3. That notwithstanding the provisions of § 54.1-1120 A 3, claims (i) satisfying the provisions of the second enactment clause of this act and (ii) previously denied by the Board because the claimant lacked a judgment then cognizable under the Virginia Contractor Transaction Recovery Act, shall be reconsidered by the Board if such claim is refiled with the Board within six months after the effective date of this act.