Summary: Corporations; reinstatement. Eliminates the requirement that an application for reinstatement of a nonstock corporation be made within five years after the date the corporation ceased to exist.

Summary: Home service contract providers. Shifts responsibility for regulating home service contract providers from the State Corporation Commission to the Commissioner of the Department of Agriculture and Consumer Services. The measure provides that home service contracts are not contracts of insurance and are not subject to regulation under the Commonwealth's insurance laws. Home service contracts are agreements to perform the service repair, replacement, or maintenance, or indemnification therefor, with regard to components, parts, appliances, or systems of a residential home property. Providers of such contracts are required to register with the Commissioner, which registration shall not require filing of forms or rate information. Providers are required to maintain a funded reserve account for their obligations under the contracts that is not less than 40 percent of gross consideration received, less claims paid, on the sale of the home service contract for all in-force home service contracts sold in the Commonwealth. Providers are also required to file a bond with the Commissioner. In lieu of the requirements for a reserve account and bond, a provider may demonstrate financial responsibility by filing a copy of a liability insurance policy that covers 100 percent of the provider's home service contract liabilities. The measure includes provisions addressing the adoption of regulations, investigations, production of records, and penalties for violations that are similar to the existing provisions applicable to extended service contract providers. Providers with a net worth in excess of $100 million are exempt from the provisions of the measure. Certain maintenance and service agreements are exempted. The measure includes a minimum tax provision that requires such entities to pay income tax at a level that provides the same revenue as is currently paid in gross premium tax. The minimum tax is in lieu of all other state and local license fees or license taxes on providers and home service contracts. The measure has a delayed effective date of January 1, 2018.

Summary: Limited Liability Company Protected Series Act.Provides for the creation by a limited liability company (LLC)of one or more protected series. The measure provides that each protectedseries may have different ownership, management structures, assets,and liabilities. Each protected series may function in a manner analogousto a separate legal entity within the LLC that established the protectedseries, which is referred to as the series LLC. The measure providesa process through which debts and obligations of one protected seriesare neither the debts nor obligations of any other protected seriesnor of the series LLC. Under the measure, a separate public filingis required to establish each protected series of a series LLC. Themeasure specifies rules for disregarding the internal liability shieldsthat protect the assets of one protected series from the creditorsof another. The measure provides that assets not properly associatedwith a protected series may be subject to the claims of creditorseven if the internal shields among series remain intact. The measureis based on the December 8, 2016, draft of the uniform Limited LiabilityCompany Protected Series Act prepared by the National Conference ofCommissioners on Uniform State Laws. The measure has a delayed effectivedate of July 1, 2018.

Summary: Health benefit plans; sale by authorized foreignhealth insurers. Establishes a procedure by which the State CorporationCommission may authorize health insurers licensed to sell health benefitplans in any other state to sell health benefit plans in Virginiawithout obtaining a license to engage in the business of insurancein Virginia or complying with other requirements applicable to Virginia-licensedinsurers. A health benefit plan sold by an authorized foreign healthinsurer is not be required to include state-mandated health benefits.The measure establishes criteria to be used by the Commission in determiningwhether to authorize a foreign health insurer to sell, offer, or providea health benefit plan in the Commonwealth. The measure authorizesthe Commission to conduct market conduct and solvency examinationsof any foreign health insurer that has applied for, or has received,authorization to sell health benefit plans in Virginia. The measurealso specifies disclosures that an authorized foreign health insureris required to include in applications and policies. The measure hasa delayed effective date of January 1, 2018.

Summary: Direct primary care agreements. Provides that a direct agreement between a patient, the patient's legal representative, or the patient's employer and a health care provider for ongoing primary care services in exchange for the payment of a monthly periodic fee is not health insurance or a health maintenance organization, if patients are not required to pay monthly periodic fees prior to initiation of the direct agreement coverage period. The measure also provides that a health care provider who participates in a direct primary care practice may participate in a health insurance carrier network so long as the provider is willing and able to meet the terms and conditions of network membership set by the health insurance carrier. The measure establishes requirements for disclosures regarding direct primary care agreements, including a list of the services covered under the agreement. This bill is identical to SB 800.

Summary: Virginia Wireless Services Authority Act; rates and charges. Provides that a wireless services authority may fix rates, fees, and charges for services provided, or facilities owned, operated, or maintained by the authority, for which the authority has received loan funding. Currently, an authority may do so only if it has issued revenue bonds. A similar change authorizes rates to be set at levels to provide for payment of loans. The measure also requires each authority to maintain records demonstrating compliance with certain provisions and to make the records available for inspection and copying by the public pursuant to the Virginia Freedom of Information Act.

Summary: Wireless communications infrastructure. Providesa uniform procedure for the way in which wireless communications infrastructureis approved by localities and approved and installed in public rights-of-way.

Summary: Health benefit plans offered by foreign health insurers. Authorizes any foreign health insurer to sell individual or group health benefit plans in the Commonwealth if it is approved to sell such plans in the foreign health insurer's domiciliary state. The measure establishes requirements applicable to such benefit plans, including provisions for registration, disclosure, marketing, and financial condition. The measure has a delayed effective date of July 1, 2018.