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- Subject Index: Since 1995
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1999 SESSION
HB 721 Credit insurance.
Introduced by: Eric I. Cantor | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Credit insurance. Modifies Virginia’s credit insurance laws. Included in the bill are provisions which (i) alter disclosure, enrollment request, and readability requirements applicable to the purchase of credit involuntary unemployment insurance, credit life insurance, and credit accident and sickness insurance; (ii) authorize combination disclosures concerning credit insurance coverages; (iii) permit the Commission, when setting credit insurance rates, to consider the following factors, in addition to loss ratios: (a) actual and expected loss experience, (b) general and administrative expenses, (c) loss settlement and adjustment expenses, (d) reasonable creditor compensation, (e) investment income, (f) the manner in which premiums are charged, (g) other acquisition costs, reserves, taxes, regulatory license fees and fund assessments, and (h) other relevant data consistent with generally accepted actuarial standards, and (iv) permit employees of a creditor or insurer, or of their respective affiliates or related entities, to enroll debtors under various group credit insurance policies without holding licenses as insurance agents, if no commissions are paid to that employee.
FULL TEXT
- 01/23/98 House: Presented & ordered printed 980487146 pdf
- 12/22/98 House: Introduced bill reprinted 980487146 pdf
- 12/22/98 House: Committee substitute printed 994604146-H1 pdf
- 02/25/99 House: Bill text as passed House and Senate (HB721ER) pdf
- 04/05/99 Governor: Acts of Assembly Chapter text (CHAP0586) pdf
HISTORY
- 01/23/98 House: Presented & ordered printed 980487146
- 01/23/98 House: Referred to Committee on Corporations, Insurance and Banking
- 02/05/98 House: Assigned to C. I. B. sub-committee: 2
- 02/12/98 House: Continued to 1999 in C. I. B. (26-Y 0-N)
- 12/15/98 House: Reported from C. I. B. w/sub. (24-Y 0-N)
- 12/22/98 House: Introduced bill reprinted 980487146
- 12/22/98 House: Committee substitute printed 994604146-H1
- 01/14/99 House: Read first time
- 01/15/99 House: Read second time
- 01/15/99 House: Committee substitute agreed to 994604146-H1
- 01/15/99 House: Engrossed by House - com. sub. 994604146-H1
- 01/18/99 House: Passed by for the day
- 01/19/99 House: Read third time and passed House (Block Vote) (98-Y 0-N)
- 01/19/99 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 01/19/99 House: Communicated to Senate
- 01/20/99 Senate: Constitutional reading dispensed
- 01/20/99 Senate: Referred to Committee on Commerce and Labor
- 02/15/99 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/16/99 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/16/99 Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
- 02/17/99 Senate: Read third time
- 02/17/99 Senate: Passed Senate (40-Y 0-N)
- 02/17/99 Senate: VOTE: PASSAGE R (40-Y 0-N)
- 02/25/99 House: Bill text as passed House and Senate (HB721ER)
- 02/26/99 House: Enrolled
- 02/26/99 House: Signed by Speaker
- 02/27/99 Senate: Signed by President
- 03/27/99 Governor: Approved by Governor-Chapter 586 (effective 7/1/99)
- 04/05/99 Governor: Acts of Assembly Chapter text (CHAP0586)