475. | Administrative and Support Services (59900) | 0 | 0
Authority: Title 12.1, Code of Virginia; Article IV, Section 14
and Article IX, Constitution 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, $168,588 from July 1, 2014, to June 30, 2016, and for
the other two Commissioners of the State Corporation Commission, each at
$166,712 from July 1, 2014, to June 30, 2016.
C. Notwithstanding the provisions of §13.1-775 1, 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, 2014. The new annual rates shall be $100 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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