Virginia Senate Bill 291 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Engrossed on January 23 2020 - 50% progression, died in committee
Action: 2020-12-04 - Left in Labor and Commerce
Pending: House Labor and Commerce Committee
Text: Latest bill text (Prefiled) [HTML]

Mortgage brokers; prohibition on dual compensation. Clarifies the existing provisions that prohibit a licensed mortgage broker from negotiating, placing, or finding a mortgage loan that will be used to finance the purchase of residential property if the mortgage broker or its affiliate is acting as a real estate broker, agent, salesman, or firm in connection with the sale of the property that will secure the loan and receiving a commission or other thing of value for such services. Mortgage brokers who were licensed by the State Corporation Commission as of February 25, 1989, remain exempt from the prohibition if they furnish the prescribed written notice to the borrower.

Mortgage brokers; prohibition on dual compensation.

Sen. Creigh Deeds [D]

2020-01-24 - Senate - Senate: Read third time and passed Senate (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 1) [PASS]
2020-01-22 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2020-01-20 - Senate - Senate: Reported from Commerce and Labor (14-Y 0-N 1-A) (Y: 14 N: 0 NV: 1 Abs: 0) [PASS]

Date	Chamber	Action
2020-12-04	House	Left in Labor and Commerce
2020-02-18	House	Continued to 2021 in Labor and Commerce by voice vote
2020-02-13	House	Referred to Committee on Labor and Commerce
2020-02-13	House	Read first time
2020-02-13	House	Placed on Calendar
2020-01-24	Senate	Read third time and passed Senate (39-Y 0-N)
2020-01-23	Senate	Read second time and engrossed
2020-01-22	Senate	Constitutional reading dispensed (40-Y 0-N)
2020-01-20	Senate	Reported from Commerce and Labor (14-Y 0-N 1-A)
2020-01-03	Senate	Referred to Committee on Commerce and Labor
2020-01-03	Senate	Prefiled and ordered printed; offered 01/08/20 20103636D

SB291 (Carry Over) 2020-02-18 - Continued to 2021 in Labor and Commerce by voice vote

Chapter	Article	Section	Citation Type	Statute Text
6	2	1616	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?211+sum+SB291
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?211+ful+SB291+hil
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?211+oth+SB291F171+PDF
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?211+vot+S02C0036+SB0291
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?211+vot+SC0119SB0291+SB0291
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?211+vot+SC0142SB0291+SB0291