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1999 SESSION

• | print version

SB 1249 Corporations; special kinds of business.

Introduced by: Richard L. Saslaw | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Corporations; special kinds of business. Authorizes public service companies to form affiliate or subsidiary public service companies to conduct public service company businesses different than that of the public service companies forming such affiliates or subsidiaries. The bill also relieves public service companies’ nonpublic service company affiliates or subsidiaries of the business restrictions placed on public service companies’ activities outside the scope of their stated public service company business. Under current law, public service companies are expressly denied general business powers. Public service companies are, however, permitted to conduct other public service and nonpublic service businesses within the Commonwealth if such businesses are “related and incidental to” such public service companies’ stated public service company businesses.

FULL TEXT

• 01/21/99  Senate: Presented & ordered printed 990242729  pdf

HISTORY

• 01/21/99  Senate: Presented & ordered printed 990242729
• 01/21/99  Senate: Referred to Committee on Commerce and Labor
• 02/08/99  Senate: Passed by indefinitely in Commerce & Labor (8-Y 6-N 1-A)