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2016 SESSION
HB 955 Limited liability companies; entity conversions.
Introduced by: Mark L. Keam | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Limited liability companies; entity conversions. Restructures the Virginia Limited Liability Company Act (Act) to locate into a new article all existing provisions related to the formation of a limited liability company (LLC) by entity conversion. In addition, the measure brings the current business entity conversion provisions in the Virginia Business Trust Act into alignment with the entity conversion provisions of the Act as restructured in this measure. The measure also provides for the reorganization of an LLC in bankruptcy, as is provided for Virginia stock and nonstock corporations. The measure makes technical adjustments to the Act to bring it in conformance with similar provisions applicable to other business entities.
FULL TEXT
- 01/12/16 House: Prefiled and ordered printed; offered 01/13/16 16103571D pdf | impact statement
- 02/29/16 House: Bill text as passed House and Senate (HB955ER) pdf | impact statement
- 03/07/16 Governor: Acts of Assembly Chapter text (CHAP0288) pdf
HISTORY
- 01/12/16 House: Prefiled and ordered printed; offered 01/13/16 16103571D
- 01/12/16 House: Referred to Committee on Commerce and Labor
- 01/26/16 House: Reported from Commerce and Labor (22-Y 0-N)
- 01/28/16 House: Read first time
- 01/29/16 House: Read second time and engrossed
- 02/01/16 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 02/01/16 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/02/16 Senate: Constitutional reading dispensed
- 02/02/16 Senate: Referred to Committee on Commerce and Labor
- 02/22/16 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/24/16 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/25/16 Senate: Read third time
- 02/25/16 Senate: Passed Senate (40-Y 0-N)
- 02/29/16 House: Enrolled
- 02/29/16 House: Bill text as passed House and Senate (HB955ER)
- 02/29/16 House: Signed by Speaker
- 03/03/16 Senate: Signed by President
- 03/04/16 House: Enrolled Bill communicated to Governor on 3/4/16
- 03/04/16 Governor: Governor's Action Deadline Midnight, March 11, 2016
- 03/07/16 Governor: Approved by Governor-Chapter 288 (effective 7/1/16)
- 03/07/16 Governor: Acts of Assembly Chapter text (CHAP0288)