Bill Text: VA HB2630 | 2019 | Regular Session | Introduced

Virginia House Bill 2630 (Prior Session Legislation)

Introduced

Bill Title: Open-end credit plans; governing law.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2019-02-05 - Left in Commerce and Labor [HB2630 Detail]

Download: Virginia-2019-HB2630-Introduced.html

19102255D
HOUSE BILL NO. 2630 Offered January 10, 2019 A BILL to amend and reenact §6.2-435 of the Code of Virginia, relating to open-end credit plans. ---------- Patron-- Yancey ---------- Committee Referral Pending ----------

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~~.