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1997 SESSION

973660460
HOUSE BILL NO. 2293
House Amendments in [ ] -- February 3, 1997
A BILL to amend the Code of Virginia by adding a section numbered 38.2-1834.1, relating to insurance agents; prohibition of agency termination.
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Patrons-- Stump, Kilgore and Phillips; Senator: Reasor
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Referred to Committee on Corporations, Insurance and Banking
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Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 38.2-1834.1 as follows:

§ 38.2-1834.1. Termination of agency contracts.

No insurer may, except by mutual agreement [ or unless otherwise provided in the agency agreement ] , cancel, nonrenew or otherwise terminate an agency agreement with an insurance agent who is in full compliance with the insurer's underwriting guidelines. [ The Commission shall have no jurisdiction to adjudicate controversies growing out of this section. ]