SB 227: Arbitration; high-volume service providers, selection of arbitrator, civil remedies.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Arbitration; high-volume arbitration service providers; selection of arbitrator; civil remedies. Requires a high-volume arbitration service provider, defined in the bill as a person or entity that administers, facilitates, or provides arbitration services in the Commonwealth and that conducts more than 100 arbitrations per year that arise from a pre-dispute arbitration agreement involving a Virginia-connected transaction, to establish and maintain certain procedures related to the selection of an arbitrator. Under the bill, a party aggrieved by a high-volume arbitration service provider that has failed to comply with such requirements may seek injunctive relief or other appropriate civil remedy or make an application with a circuit court to vacate an arbitration award in accordance with current law. The bill also requires all high-volume arbitration service providers to report information related to certain arbitrations annually with the State Corporation Commission and permits the Commission to impose a $10,000 civil penalty per violation on high-volume arbitration service providers who fail to comply with the provisions of the bill. Finally, the bill provides that these provisions shall apply to arbitration agreements entered into on or after July 1, 2026.

Sponsors

Sponsors by party (alphabetical): Democratic 1

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. April 8, 2026Acts of Assembly Chapter text (CHAP0490)
2. April 8, 2026Approved by Governor-Chapter 490 (effective 7/1/2026)
3. March 14, 2026Governor's Action Deadline 11:59 p.m., April 13, 2026
4. March 14, 2026Enrolled Bill communicated to Governor on March 14, 2026
5. March 12, 2026Signed by President
6. March 12, 2026Signed by Speaker
7. March 12, 2026Fiscal Impact Statement from Department of Planning and Budget (SB227)
8. March 12, 2026Bill text as passed Senate and House (SB227ER)
9. March 12, 2026Enrolled
10. March 6, 2026House amendments agreed to by Senate (40-Y 0-N 0-A)
11. March 4, 2026Passed House with amendments (99-Y 0-N 0-A)
12. March 4, 2026Reconsideration of passage agreed to by House

Showing 12 most recent of 38 actions. Full history