Nonstock Corporation Act; updates to make consistent with changes to Stock Corporation Act. (SB1286)
Introduced By
Sen. Walter Stosch (R-Glen Allen)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
✓ |
Became Law |
Description
Virginia Nonstock Corporation Act. Updates the Virginia Nonstock Corporation Act to make several provisions consistent with changes to the Virginia Stock Corporation Act that were enacted in 2005, based upon recent amendments to the Model Business Corporation Act. Specific areas of substantive change include setting forth procedures for the approval of a business opportunity; defining "disinterested director"; permitting several corporate actions to be taken electronically; updating provisions regarding member voting and elections; staggering the terms of directors; indemnifying directors and officers; streamlining the process for combining corporations with other types of business entities; asserting claims against dissolved corporations; and confirming that provisions in corporate documents filed with the State Corporation Commission may be made dependent on statistical or market indices or other objectively ascertainable facts. Read the Bill »
Status
04/04/2007: enacted
History
Date | Action |
---|---|
01/10/2007 | Prefiled and ordered printed; offered 01/10/07 070166824 |
01/10/2007 | Referred to Committee on Commerce and Labor |
01/17/2007 | Impact statement from SCC (SB1286) |
01/24/2007 | Constitutional reading dispensed (40-Y 0-N) |
01/25/2007 | Read second time |
01/25/2007 | Reading of amendments waived |
01/25/2007 | Committee amendments agreed to |
01/25/2007 | Engrossed by Senate as amended SB1286E |
01/25/2007 | Printed as engrossed 070166824-E |
01/26/2007 | Read third time and passed Senate (38-Y 0-N) |
01/26/2007 | Communicated to House |
02/06/2007 | Placed on Calendar |
02/06/2007 | Read first time |
02/06/2007 | Referred to Committee on Commerce and Labor |
02/07/2007 | Impact statement from SCC (SB1286E) |
02/13/2007 | Reported from Commerce and Labor (19-Y 1-N) (see vote tally) |
02/15/2007 | Read second time |
02/16/2007 | Read third time |
02/16/2007 | Passed House (98-Y 0-N) |
03/12/2007 | Enrolled |
03/12/2007 | Bill text as passed Senate and House (SB1286ER) |
03/12/2007 | Signed by President |
03/13/2007 | Signed by Speaker |
03/14/2007 | Impact statement from SCC (SB1286ER) |
03/26/2007 | Governor's recommendation received by Senate |
03/27/2007 | Governor's substitute printed 070304824-S1 |
04/03/2007 | Placed on Calendar |
04/04/2007 | Enacted, Chapter (effective 7/1/07) |
04/04/2007 | House concurred in Governor's recommendation (98-Y 0-N) |
04/04/2007 | G Governor's recommendation adopted |
04/04/2007 | VOTE: ADOPTION (98-Y 0-N) (see vote tally) |
04/04/2007 | Reenrolled |
04/04/2007 | Reenrolled bill text (SB1286ER2) |
04/04/2007 | Signed by President as reenrolled |
04/04/2007 | Signed by Speaker as reenrolled |
04/04/2007 | Enacted, Chapter 925 (effective 7/1/07) |
04/11/2007 | G Acts of Assembly Chapter text (CHAP0925) |