HOUSE BILL 286

Sponsored By:

Delegates Kach and Love

Entitled:

Insurance - Premium Financing - Return of Unearned Premiums on Cancellation of Insurance Contract

Synopsis:

Limiting to a specified amount the administrative fee that may be excluded from gross unearned premiums that are due under an insurance contract and that must be returned to a premium finance company by an insurer when the insurance contract is canceled; and altering the items that may be excluded from the gross unearned premiums.

History by Legislative Date

House Action

1/31

First Reading Economic Matters

2/5

Hearing 2/13 at 1:00 p.m.

3/21

Unfavorable Report by Economic Matters

Senate Action

No Action

Sponsored by:

Delegate Wade Kach, District 5B

Delegate Mary Ann E. Love, District 32

Bill indexed under the following Subjects:

CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES

CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT

FEES -see also- DEVELOPMENT FEES AND TAXES

INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS

Bill affects the following Statute:

Insurance

( 23-405 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered