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1996 SESSION
HB 1009 Corporations; voting on amendments by voting groups.
Introduced by: W. Tayloe Murphy, Jr. | all patrons ... notes | add to my profiles
SUMMARY:
Corporations; voting on amendments by voting groups. Permits Virginia corporations to exclude from class votes amendments to articles of incorporation increasing or decreasing the number of shares of a voting class of stock, but not below the number of shares of the class then outstanding. This exclusion can be included in the original articles of incorporation, or in an amendment (i) that is adopted prior to the issuance of any shares of such class or (ii) that is authorized by the required vote of the shares of such class. The bill also provides that the holders of preferred stock which may be converted into common stock, as well as the holders of the underlying common stock (into which such preferred stock is convertible), vote together on any proposed amendment to a corporation's articles of incorporation only when both classes will be affected the same way.
FULL TEXT
- 01/22/96 House: Presented & ordered printed 962293376 pdf
- 02/29/96 House: Bill text as passed House and Senate (HB1009ER) pdf
- 03/22/96 Governor: Acts of Assembly Chapter text (CHAP0238) pdf
HISTORY
- 01/22/96 House: Presented & ordered printed 962293376
- 01/22/96 House: Referred to Committee on Corporations, Insurance and Banking
- 02/06/96 House: Reported from Corp., Ins. & Banking (22-Y 0-N)
- 02/07/96 House: Read first time
- 02/08/96 House: Read second time and engrossed
- 02/09/96 House: Read third time and passed House (Block Vote) (99-Y 0-N)
- 02/09/96 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 02/09/96 House: Reconsideration of passage agreed to by House
- 02/09/96 House: Passed House (Block Vote) (100-Y 0-N)
- 02/09/96 House: VOTE: BLOCK VOTE PASSAGE #2 (100-Y 0-N)
- 02/09/96 House: Communicated to Senate
- 02/12/96 Senate: Read first time
- 02/12/96 Senate: Referred to Committee on Commerce and Labor
- 02/19/96 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/20/96 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/20/96 Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
- 02/21/96 Senate: Read third time
- 02/21/96 Senate: Passed Senate (40-Y 0-N)
- 02/21/96 Senate: VOTE: PASSAGE (40-Y 0-N)
- 02/29/96 House: Bill text as passed House and Senate (HB1009ER)
- 03/04/96 House: Enrolled
- 03/04/96 House: Signed by Speaker
- 03/05/96 Senate: Signed by President
- 03/16/96 Governor: Approved by Governor-Chapter 238 (effective 7/1/96)
- 03/22/96 Governor: Acts of Assembly Chapter text (CHAP0238)