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1998 SESSION

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SB 41 Automobile clubs.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY:

Insurance; automobile clubs. Makes the following changes to Virginia's statutes governing automobile clubs:

(i) establishes time frames and fees for licensing automobile clubs that are consistent with the time frames (other entities' licenses renew effective July 1; automobile club licenses currently renew January 1) and fees (other entities pay a $500 nonrefundable application fee and at least a $200 annual renewal fee; automobile clubs pay an initial fee of $100 and an annual renewal fee of $100) for other entities licensed by the Bureau of Insurance;

(ii) codifies the specific grounds upon which the Commission may suspend, revoke, or refuse to issue a license to an automobile club;

(iii) subjects automobile club agents to the same standards for license qualification as apply to other holders of restricted agent licenses;

(iv) subjects automobile club agents to the same licensing and appointment requirements as apply to all other restricted licenses issued by the Bureau, including making the restricted license perpetual (as opposed to annually renewable as of January 1 each year) and imposing upon automobile clubs the same annual appointment renewal fees and quarterly billing for appointments and appointment renewals that are at present applicable to all other licenses and licensees;

(v) subjects automobile club agents to the same grounds for license refusal, suspension, or revocation as apply to all other licensees; and

(vi) corrects some minor editorial changes in the current law to conform the law internally (e.g., the law refers in some places to "motor clubs" and "holders of service contracts," both terms being outmoded) to provide for consistent use of the terms "automobile club" and "members or subscribers of any such club."


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