Carrie Coyner
- Republican
- Delegate
- District 75
Primary
Contracts assigning rights to inheritance funds; legal rate of interest. Provides that any contract entered into on or after July 1, 2024, pursuant to which a person receives a cash advance for assigning to a company or other entity a portion of such person's rights to receive inheritance funds from a will in a pending probate matter shall be considered a loan and any additional funds such person is obligated to pay under the terms of the contract shall be considered interest. The bill provides that such contract shall be subject to the legal rate of interest.
Contracts assigning rights to inheritance funds;legal rate of interest. Provides that any contract pursuant towhich a person receives a cash advance for assigning to a companyor other entity a portion of such person's rights to receive inheritancefunds from a will in a pending probate matter shall be considereda loan and any additional funds such person is obligated to pay underthe terms of the contract shall be considered interest. The bill provides that such contract shall be subject to the legal rate ofinterest.
Contracts assigning rights to inheritance funds;legal rate of interest. Provides that any contract pursuant towhich a person receives a cash advance for assigning to a companyor other entity a portion of such person's rights to receive inheritancefunds from a will in a pending probate matter shall be considereda loan and any additional funds such person is obligated to pay underthe terms of the contract shall be considered interest. The bill provides that such contract shall be subject to the legal rate ofinterest.
Acts of Assembly Chapter text (CHAP0728)
Approved by Governor-Chapter 728 (effective 7/1/24)
Governor's Action Deadline 11:59 p.m., April 8, 2024
Enrolled Bill communicated to Governor on March 11, 2024
Impact statement from SCC (HB648ER)
Signed by President
Bill text as passed House and Senate (HB648ER)
Signed by Speaker
Enrolled
VOTE: Adoption (96-Y 0-N)
Senate amendment agreed to by House (96-Y 0-N)
Reading of amendment waived
Passed Senate with amendment (30-Y 10-N)
Engrossed by Senate as amended
Amendment by Senator Surovell agreed to
Read third time
Constitutional reading dispensed (39-Y 0-N)
Reported from Courts of Justice (12-Y 0-N 2-A)
Impact statement from SCC (HB648E)
Referred to Committee for Courts of Justice
Constitutional reading dispensed
Read third time and passed House BLOCK VOTE (100-Y 0-N)
VOTE: Block Vote Passage (100-Y 0-N)
Read second time
Printed as engrossed 24104601D-E
Engrossed by House as amended HB648E
Committee amendment agreed to
Read first time
Reported from Labor and Commerce with amendment(s) (21-Y 0-N)
Subcommittee recommends reporting with amendments (7-Y 0-N)
Impact statement from SCC (HB648)
Assigned L & C sub: Subcommittee #1
Referred to Committee on Labor and Commerce
Prefiled and ordered printed; offered 01/10/24 24104601D
| Bill Text Versions | Format |
|---|---|
| Prefiled and ordered printed; offered 01/10/24 24104601D | PDF HTML |
| Printed as engrossed 24104601D-E | PDF HTML |
| HB648ER | PDF HTML |
| CHAP0728 | PDF HTML |
| Document | Format |
|---|---|
| Fiscal Impact Statement: HB648FER171.PDF | |
| Fiscal Impact Statement: HB648FE171.PDF | |
| Fiscal Impact Statement: HB648F171.PDF | |
| Amendment: HB648ASE | HTML |
| Amendment: HB648AS | HTML |
| Amendment: HB648AH | HTML |
Data on Open States is updated periodically throughout the day from the official website of the Virginia General Assembly.
If you notice any inconsistencies with these official sources, feel free to file an issue.