Bill Text: VA SB1290 | 2019 | Regular Session | Prefiled
Bill Title: Open-end credit plans; governing law.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2019-01-28 - Failed to report (defeated) in Commerce and Labor (5-Y 7-N 1-A) [SB1290 Detail]
Download: Virginia-2019-SB1290-Prefiled.html
19103712D
SENATE BILL NO. 1290
Offered January 9, 2019
Prefiled January 7, 2019
A BILL to amend and reenact §6.2-435 of the Code of Virginia,
relating to open-end credit plans.
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Patron-- Saslaw
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Referred to Committee on Commerce and Labor
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Be it enacted by the General Assembly of Virginia:
1. That §6.2-435 of the Code of Virginia is amended and reenacted as follows:
§6.2-435. Law governing open-end credit contract or plan by seller or lender.
An open-end credit plan as defined and
described in § §§ 6.2-300, and 6.2-312 between a seller
or lender, whether or not the seller or lender has a
physical location in the Commonwealth, and an obligor a Virginia
resident shall be governed
solely by federal law, and by
the laws of the Commonwealth, unless otherwise expressly
agreed in writing by the parties.
