Virginia Senate Bill 1325 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 25 2019 - 100% progression
Action: 2019-03-25 - Governor: Acts of Assembly Chapter text (CHAP0800)
Text: Latest bill text (Chaptered) [HTML]

Guaranteed asset protection waivers. Establishes requirements for offering guaranteed asset protection (GAP) waivers, which are agreements, entered into as a part of or addendum to a motor vehicle financing agreement, under which the creditor agrees for a separate charge to waive or cancel amounts due on the finance agreement if the financed motor vehicle is totally damaged or stolen. The measure requires the creditor to insure its GAP waiver obligations; prohibits a creditor from conditioning an extension or term of credit on the purchase of a GAP waiver; requires a GAP waiver to include disclosures regarding the cancellation of the GAP waiver during a free look period; and establishes requirements and restrictions for the cancellation of GAP waivers, including refund provisions. The measure provides that GAP waivers are not insurance and are exempt from Virginia's insurance laws. This bill is identical to HB 2109.

Guaranteed asset protection waivers; establishes requirements for offering waivers, etc.

Sen. Benton Chafin [R]

2019-02-13 - House - House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (Y: 98 N: 0 NV: 1 Abs: 0) [PASS]
2019-02-12 - House - House: Reported from Commerce and Labor (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Reconsideration of passage agreed to by Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2019-01-25 - Senate - Senate: Read third time and passed Senate (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-01-23 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2019-01-21 - Senate - Senate: Reported from Commerce and Labor with substitute (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2019-03-25		Governor: Acts of Assembly Chapter text (CHAP0800)
2019-03-25		Governor: Approved by Governor-Chapter 800 (effective 7/1/19)
2019-02-20		Governor: Governor's Action Deadline Midnight, March 26, 2019
2019-02-20	Senate	Enrolled Bill Communicated to Governor on February 20, 2019
2019-02-19	Senate	Signed by President
2019-02-18	House	Signed by Speaker
2019-02-18	Senate	Bill text as passed Senate and House (SB1325ER)
2019-02-18	Senate	Enrolled
2019-02-13	House	VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
2019-02-13	House	Passed House BLOCK VOTE (98-Y 0-N)
2019-02-13	House	Read third time
2019-02-12	House	Read second time
2019-02-12	House	Reported from Commerce and Labor (22-Y 0-N)
2019-01-29	House	Referred to Committee on Commerce and Labor
2019-01-29	House	Read first time
2019-01-29	House	Placed on Calendar
2019-01-25	Senate	Passed Senate (40-Y 0-N)
2019-01-25	Senate	Reconsideration of passage agreed to by Senate (40-Y 0-N)
2019-01-25	Senate	Read third time and passed Senate (39-Y 0-N)
2019-01-24	Senate	Engrossed by Senate - committee substitute SB1325S1
2019-01-24	Senate	Committee substitute agreed to 19105055D-S1
2019-01-24	Senate	Reading of substitute waived
2019-01-24	Senate	Read second time
2019-01-23	Senate	Constitutional reading dispensed (39-Y 0-N)
2019-01-21	Senate	Committee substitute printed 19105055D-S1
2019-01-21	Senate	Reported from Commerce and Labor with substitute (15-Y 0-N)
2019-01-07	Senate	Referred to Committee on Commerce and Labor
2019-01-07	Senate	Prefiled and ordered printed; offered 01/09/19 19103836D

Chapter	Article	Section	Citation Type	Statute Text
38	2	6400	(n/a)	See Bill Text
38	2	6408	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?191+sum+SB1325
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+SB1325+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+SB1325S1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+SB1325ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+CHAP0800+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+S02V0056+SB1325
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+SV0151SB1325+SB1325
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+SV0178SB1325+SB1325
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+SV0179SB1325+SB1325
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+SV0180SB1325+SB1325
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+H14V0154+SB1325
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+HV2711+SB1325