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2020 SESSION

Unfinished Business - Senate

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S.B. 77. A BILL to amend and reenact §§ 19.2-389, as it is currently effective and as it shall become effective, and 59.1-200 of the Code of Virginia and to amend the Code of Virginia by adding in Title 6.2 a chapter numbered 26, consisting of sections numbered 6.2-2600 through 6.2-2622, relating to student loans; licensing of qualified education loan servicers; civil penalties. 20107049D

Patrons--Howell, McClellan and Surovell; Delegates: Delaney and Kory

Referred to Committee on Commerce and Labor November 25, 2019

Passed Senate February 5, 2020 (40-Y 0-N)

Passed House with amendments February 21, 2020 (85-Y 11-N)

AMENDMENT(S) PROPOSED BY THE HOUSE OF DELEGATES

DEL. SIMON

    1. Line 93, engrossed, after Automatically
      strike
        issue a renewal
      insert
        renew a

DEL. SIMON

    2. Line 100, engrossed, after D.
      strike
        the remainder of line 100, all of lines 101 through 107, and through apply on line 108
      insert
        A person issued a license pursuant to subdivision B 1 shall, within seven days after receiving notification of the expiration, revocation, or termination of any contract awarded by the U.S. Secretary of Education under 20 U.S.C. § 1087f, provide the Commissioner with written notice of such expiration, revocation, or termination. Notwithstanding any other provision of this chapter, such person's license shall automatically expire 30 days after the expiration, revocation, or termination of such person's contract. A person seeking to act as a qualified education loan servicer following the expiration of its license may apply for a new license by filing an application that meets the requirements of §§ 6.2-2603 and 6.2-2604 and subsection B of § 6.2-2605

DEL. SIMON

    3. Line 115, engrossed, after desist
      insert
        order

DEL. SIMON

    4. Line 147, engrossed, after laws.
      strike
        the remainder of line 147, all of line 148, and through damages. on line 149

DEL. SIMON

    5. Line 162, engrossed, after information
      insert
        to the Federal Bureau of Investigation for the purpose of obtaining national criminal history record information

DEL. SIMON

    6. Line 246, engrossed, after conduct
      strike
        a search
      insert
        searches