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2010 SESSION
HB 831 Public Procurement Act; foreign & domestic businesses authorized to transact business in State.
Introduced by: Scott A. Surovell | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED HOUSE:
Virginia Public Procurement Act; foreign business entities. Requires all public bodies to include in every written contract a provision that the contractor must be authorized to transact business in Virginia as a domestic or foreign business entity as required by the State Corporation Commission, if such is required by law. Such status shall be maintained during the term of a contract. A contract entered into by a business in violation of the requirements is voidable at the option of the public body.
SUMMARY AS INTRODUCED:
Virginia Public Procurement Act; foreign business entities. Prohibits a foreign corporation, limited liability company, business trust, limited partnership, or registered limited liability partnership from bidding on, or entering into, amending, or renewing, a contract with a public body under the Virginia Public Procurement Act unless the foreign entity provides a copy of a valid certificate or authority or registration to conduct business in the Commonwealth. Such status shall be maintained during the term of a contract and for five years after its term is completed. A contract entered into by a business in violation of the requirements is voidable at the option of the public body.