On January 1, 2023, “pay-if-paid” clauses in new contracts became void as against public policy and unenforceable as a result of Virginia Senate Bill 550 (SB 550) going into effect. See Va. Code §§ 2.2-4354 and 11-4.6....more
On April 27, 2022, Virginia Governor Glenn Youngkin signed Senate Bill 550 into law, amending a portion of the Virginia Prompt Payment Act and a component of the Virginia wage theft statute. Va. Code § 2.2-4354 and VA. Code §...more