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1997 SESSION
HB 2474 Limited Liability Company Act.
Introduced by: Alan A. Diamonstein | all patrons ... notes | add to my profiles
SUMMARY:
Virginia Limited Liability Company Act. Amends the Virginia Limited Liability Company (LLC) Act to change default voting requirements for the admission of new members and the continuation of a limited liability company after an event of dissolution. The bill also: (i) amends limited liability company, limited partnership and merger statutes to accommodate mergers with general partnerships; (ii) clarifies that a limited liability company's articles of amendment may restate the articles of organization; (iii) clarifies the scope of a single-member limited liability company's operating agreement; (iv) adds new provisions providing for the domestication of non-United States entities as Virginia limited liability companies; (v) permits conversion of non-Virginia partnerships to Virginia limited liability companies; and (vi) eliminates the current prohibition against LLC perpetual duration.
FULL TEXT
- 01/20/97 House: Presented & ordered printed 973696204 pdf
- 02/01/97 House: Printed as engrossed 973696204-E pdf
- 02/20/97 House: Bill text as passed House and Senate (HB2474ER) pdf
- 03/17/97 Governor: Acts of Assembly Chapter text (CHAP0190) pdf
AMENDMENTS
HISTORY
- 01/20/97 House: Presented & ordered printed 973696204
- 01/20/97 House: Referred to Committee on Corporations, Insurance and Banking
- 01/30/97 House: Reported from C. I. B. w/amds. (21-Y 0-N)
- 01/31/97 House: Read first time
- 02/01/97 House: Read second time
- 02/01/97 House: Committee amendments agreed to
- 02/01/97 House: Engrossed by House as amended
- 02/01/97 House: Printed as engrossed 973696204-E
- 02/02/97 House: Read third time and passed House (Block Vote) (100-Y 0-N)
- 02/02/97 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 02/02/97 House: Communicated to Senate
- 02/03/97 Senate: Constitutional reading dispensed (36-Y 4-N)
- 02/03/97 Senate: Referred to Committee on Commerce and Labor
- 02/10/97 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/11/97 Senate: Const. reading disp., passed by for the day (40-Y 0-N)
- 02/11/97 Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
- 02/12/97 Senate: Read third time
- 02/12/97 Senate: Passed Senate (40-Y 0-N)
- 02/12/97 Senate: VOTE: PASSAGE (40-Y 0-N)
- 02/20/97 House: Bill text as passed House and Senate (HB2474ER)
- 02/25/97 House: Enrolled
- 02/25/97 Senate: Signed by President
- 02/26/97 House: Signed by Speaker
- 03/08/97 Governor: Approved by Governor-Chapter 190 (effective 7/1/97)
- 03/17/97 Governor: Acts of Assembly Chapter text (CHAP0190)