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1999 SESSION
HB 1873 Securities; exemptions from registration.
Introduced by: Vincent F. Callahan, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Securities; exemptions from registration. Authorizes the Virginia State Corporation Commission (SCC) to broaden, narrow or further condition the limited offering exemption contained in the Virginia Securities Act. The bill permits the SCC to exclude by regulation certain categories of investors from the 35-purchaser count and clarifies that registered broker-dealers may participate on behalf of the issuer of the security. Additional provisions authorize the SCC to (i) broaden the exemption section to allow participation of directors (including nonemployee directors) in a covered benefit plan and (ii) create by regulation an exemption for offers and sales solely to “accredited investors.”
FULL TEXT
- 01/15/99 House: Presented & ordered printed 990214845 pdf
- 02/25/99 House: Bill text as passed House and Senate (HB1873ER) pdf
- 03/23/99 Governor: Acts of Assembly Chapter text (CHAP0092) pdf
HISTORY
- 01/15/99 House: Presented & ordered printed 990214845
- 01/15/99 House: Referred to Committee on Corporations, Insurance and Banking
- 01/21/99 House: Reported from Corp., Ins. & Banking (26-Y 0-N)
- 01/22/99 House: Read first time
- 01/25/99 House: Read second time and engrossed
- 01/26/99 House: Read third time and passed House (Block Vote) (100-Y 0-N)
- 01/26/99 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 01/26/99 House: Communicated to Senate
- 01/27/99 Senate: Constitutional reading dispensed
- 01/27/99 Senate: Referred to Committee on Commerce and Labor
- 02/15/99 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/16/99 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/16/99 Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
- 02/17/99 Senate: Read third time
- 02/17/99 Senate: Passed Senate (40-Y 0-N)
- 02/17/99 Senate: VOTE: PASSAGE R (40-Y 0-N)
- 02/25/99 House: Bill text as passed House and Senate (HB1873ER)
- 02/26/99 House: Enrolled
- 02/27/99 House: Signed by Speaker
- 02/27/99 Senate: Signed by President
- 03/15/99 Governor: Approved by Governor-Chapter 92 (effective 7/1/99)
- 03/23/99 Governor: Acts of Assembly Chapter text (CHAP0092)