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1995 SESSION

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LD3013176
HOUSE BILL NO. 2096 Offered January 23, 1995 A BILL to amend the Code of Virginia by adding a section numbered 30-9.1, relating to members of the General Assembly serving on corporate boards. ---------- Patron--Cranwell ---------- Referred to Committee on Corporations, Insurance and Banking ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 30-9.1 as follows:

§ 30-9.1. Prohibition of more than two members on certain corporate boards.

No more than two members of the General Assembly shall serve on the body or board of any corporation, company or other legal entity that is vested with the management of the corporation, company or entity, and which is regulated by the State Corporation Commission as:

1. A financial institution;

2. A mortgage lender or broker;

3. Any business under Chapter 5 (§ 13.1-501 et seq.) of Title 13.1;

4. Any business under Title 38.2; or

5. Any business under Title 56.