477. | Administrative and Support Services (59900) | 0 | 0
Authority:
Article IV, Section 14 and Article IX, Constitution of Virginia; Title 12.1,
Code of Virginia.
A. Operational
costs for this program shall be paid solely from charges to agency programs.
B. Out of the amounts
for this Item, shall be paid the annual salary of the chairman, $163,617 from
July 1, 2010, to June 30, 2012, and for the other two Commissioners of the
State Corporation Commission, each at $161,825 from July 1, 2010, to June 30,
2012.
C. Notwithstanding
the provisions of §13.1-775 1 A of the Code of Virginia, the State
Corporation Commission shall continue the following annual registration fees
for domestic and foreign corporations to be collected on or after July 1, 2008.
The new annual rates shall be one hundred dollars for every foreign and
domestic corporation authorized to do business in the Commonwealth whose number
of authorized shares is 5,000 shares or less. Any such corporation whose number
of authorized shares is more than 5,000 shall pay an annual registration fee of
$100 plus $30 for each 5,000 shares or fraction thereof in excess of 5,000 up
to a maximum of $1,700. The commission shall deposit these funds into a special
fund and transfer three-fourths of the receipts to the general fund
semiannually.
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