HOUSE BILL 717

Sponsored By:

Delegates Barve, Feldman, and Taylor

Entitled:

Insurance - Premium Finance Agreements

Synopsis:

Providing that a premium finance agreement, in addition to financing the premium of a surplus lines insurance contract, may include specified premium receipts taxes and fees charged by a surplus lines broker; and altering the manner in which a finance charge is computed.

History by Legislative Date

House Action

2/7

First Reading Economic Matters

2/12

Hearing 2/20 at 1:00 p.m.

3/10

Favorable Report by Economic Matters

3/11

Favorable Report Adopted

Special Order 3/12 (Delegate McHale) Adopted

3/12

Special Order 3/13 (Delegate Gordon) Adopted

3/13

Second Reading Passed

3/18

Third Reading Passed (139-1)

3/28

House Concur - Senate Amendments

Third Reading Passed (140-0)

Passed Enrolled

5/22

Governor vetoed - Cross-filed bill was signed

Senate Action

3/19

First Reading Finance

3/20

Hearing 3/21 at 1:00 p.m.

3/26

Favorable with Amendments Report by Finance

3/25

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/26

Third Reading Passed with Amendments (46-0)

Sponsored by:

Delegate Kumar P. Barve, District 17

Delegate Brian J. Feldman, District 15

Delegate Herman Taylor, District 14

Bill indexed under the following Subjects:

AGENTS AND BROKERS

FEES -see also- DEVELOPMENT FEES AND TAXES

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

LOANS -see also- MORTGAGES

REVENUE AND TAXES -see also- DEV FEES & TAXES; specific tax.

Bill affects the following Statutes:

Insurance

( 23-301.1 , 23-304 )

Documents:

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

Fiscal Note: Available (PDF)

Amendments:

Senate

Number: 767171/01 (PDF)     Offered on: March 26, 2003   at: 12:07 p.m.     Status: Adopted

Roll Call Votes (Legislative dates are shown):

House

March 18, 2003: Third Reading Passed (139-1)

March 28, 2003: Third Reading Passed (140-0)

Senate

March 26, 2003: Third Reading Passed (46-0)