SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2008 SESSION
SB 146 Stock and nonstock corporations; authorizes SCC to correct Commission records at any time.
Introduced by: Walter A. Stosch | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Stock and nonstock corporations. Authorizes the State Corporation Commission to correct Commission records at any time to eliminate clerical errors and eliminate filings made by a person without authority to act for the stock or nonstock corporation. The period within which a shareholder is required to file a petition asserting that a certification contains a misstatement of a material fact is increased from 10 to 30 days after the effective date of the certificate. The measure clarifies that actions required to be adopted, as well as actions required to be taken, at a shareholders meeting may be adopted or taken without a meeting if the action is adopted or taken by all of the shareholders entitled to vote. The requirement that a stock corporation give nonvoting shareholders written notice of certain actions not less than 15 days before the action becomes effective is repealed. A provision that allowed an exception to the requirement that, unless otherwise provided in the articles of incorporation, each class of shares be allowed to vote as a separate voting group on a proposed amendment to the articles that would increase or decrease the aggregate number of authorized shares of the class is repealed. Other elements revise provisions relating to the time limit on the commencement of proceedings to enforce a claim against a dissolved corporation, limitations on remedial actions, maintaining records with respect to beneficial owners whose shares are held by a nominee, and proceedings to determine the security to be provided for claims involving a dissolved corporation.
FULL TEXT
- 01/04/08 Senate: Prefiled and ordered printed; offered 01/09/08 086980332 pdf | impact statement
- 01/17/08 Senate: Printed as engrossed 086980332-E pdf | impact statement
- 02/20/08 Senate: Bill text as passed Senate and House (SB146ER) pdf | impact statement
- 03/04/08 Governor: Acts of Assembly Chapter text (CHAP0091) pdf
AMENDMENTS
HISTORY
- 01/04/08 Senate: Prefiled and ordered printed; offered 01/09/08 086980332
- 01/04/08 Senate: Referred to Committee on Commerce and Labor
- 01/14/08 Senate: Reported from Commerce and Labor with amendments (14-Y 0-N)
- 01/16/08 Senate: Constitutional reading dispensed (39-Y 0-N)
- 01/17/08 Senate: Read second time
- 01/17/08 Senate: Reading of amendments waived
- 01/17/08 Senate: Committee amendments agreed to
- 01/17/08 Senate: Engrossed by Senate as amended SB146E
- 01/17/08 Senate: Printed as engrossed 086980332-E
- 01/18/08 Senate: Read third time and passed Senate (39-Y 0-N)
- 01/18/08 Senate: Communicated to House
- 02/11/08 House: Placed on Calendar
- 02/11/08 House: Read first time
- 02/11/08 House: Referred to Committee on Commerce and Labor
- 02/14/08 House: Reported from Commerce and Labor (22-Y 0-N)
- 02/18/08 House: Read second time
- 02/19/08 House: Read third time
- 02/19/08 House: Passed House BLOCK VOTE (97-Y 0-N)
- 02/19/08 House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
- 02/20/08 Senate: Enrolled
- 02/20/08 Senate: Bill text as passed Senate and House (SB146ER)
- 02/20/08 House: Signed by Speaker
- 02/22/08 Senate: Signed by President
- 03/02/08 Governor: Approved by Governor-Chapter 91 (effective 7/1/08)
- 03/04/08 Governor: Acts of Assembly Chapter text (CHAP0091)