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Legislation


2012 Regular Session

HOUSE BILL 1027

File Code: Commercial Law - Credit Regulation Crossfiled with: SENATE BILL 901
Sponsored By:
Delegates Barkley and Vaughn
Entitled:
Credit Regulation - Retail Installment Sales and Closed End Credit - Debt Cancellation Agreements - Definitions

Synopsis:

Altering the definition of "debt cancellation agreement", for purposes of specified provisions of law governing retail installment sales and closed end credit, to include, under specified circumstances, an agreement under which the outstanding balance of a loan is reduced by the actual cash value of a motor vehicle or of specified collateral at the time of loss; altering the definitions of "outstanding balance" and "remaining loan balance" to exclude deferred payments and a specified portion of any financed taxes and charges; etc.

History by Legislative and Calendar Date

Legislative date is used to record history occurring in the Chambers otherwise Calendar date is used. For explanation of terms click here.
House Action
2/10
First Reading Economic Matters
2/13
Hearing 2/28 at 1:00 p.m.
3/21

Favorable with Amendments Report by Economic Matters
3/18
Favorable with Amendments {583294/1 Report Adopted
Second Reading Passed with Amendments
3/19
Third Reading Passed (136-0)
4/1
House Concur - Senate Amendments
Third Reading Passed (136-2)
Passed Enrolled
Senate Action
3/20
First Reading Finance
3/26
Hearing 3/28 at 1:00 p.m.
4/4
Favorable with Amendments Report by Finance
3/29
Favorable with Amendments {207575/1 Report Adopted
Second Reading Passed with Amendments
3/30
Third Reading Passed with Amendments (45-1)
Action after passage in House and Senate
5/22
Approved by the Governor
- Chapter 619

Sponsored by:

Delegate Charles Barkley, District 39
Delegate Michael L. Vaughn, District 24

Bill indexed under the following Subjects:

Contracts -see also- Land Installment Contracts; Procurement
Credit
Debt Collection -see also- Attachments and Garnishments
Loans -see also- Mortgages
Motor Vehicles -see also- Aband Veh; Ambulances; Buses; etc.

Bill affects the following Statutes:

Commercial Law
( 12-601 , 12-601 , 12-1001 )

Documents

All documents except Roll Call Votes are displayed in PDF format:
Bill Text: First Reading, Third Reading, Enrolled, Chapter
Fiscal and Policy Note: Available
Amendments:
House
Number: 583294/01     Offered on: March 21, 2012   at: 11:50 a.m.     Status: Adopted
Senate
Number: 207575/01     Offered on: April 4, 2012   at: 5:31 p.m.     Status: Adopted
Committee Votes :
House
Economic Matters
Senate
Finance
Roll Call Votes (Legislative dates are shown):
House
March 19, 2012: Third Reading Passed (136-0)
April 1, 2012: Third Reading Passed (136-2)
Senate
March 30, 2012: Third Reading Passed (45-1)
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