2001 Regular Session

HOUSE BILL 387

CHAPTER NUMBER: 219 File Code: Insurance - Other than Health
Sponsored By:
Delegate Barve
Entitled:
Insurance - Premium Financing

Synopsis:

Requiring that a copy or other notice of a premium finance agreement be sent to a surplus lines broker licensed in the State under specified circumstances; authorizing a premium finance company to require an agent or broker who procures premium financing to send the notice and provide specified information; requiring an agent or broker to return gross unearned commissions to an insurer within a reasonable period of time when an insurance contract has been canceled by a premium finance company, an insurer, or an insured; etc.

History by Legislative Date

House Action
1/31
First Reading Economic Matters
Hearing 2/7 at 1:00 p.m.
2/26
Favorable with Amendments Report by Economic Matters
2/27
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/1
Third Reading Passed (138-0)
3/28
Returned Passed
4/20
Signed by the Governor Chapter 219
Senate Action
3/2
First Reading Finance
3/9
Hearing 3/27 at 1:00 p.m.
3/30
Favorable Report by Finance
Favorable Report Adopted
Second Reading Passed
3/31
Third Reading Passed (44-3)
Bill indexed under the following Subjects:
AGENTS AND BROKERS
CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
NOTICES
Bill affects the following Statutes:
Insurance
( 23-302 , 23-405 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
Amendments:
House
Number: 133299/1 (PDF)     Offered on: February 27, 2001   at: 11:11 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
March 1, 2001: Third Reading Passed (138-0)
Senate
March 31, 2001: Third Reading Passed (44-3)