Benefit limited liability companies; purpose is to create general public benefit. (HB354)

Introduced By

Del. Jennifer McClellan (D-Richmond)

Progress

√
 Introduced
X
 Passed Committee
☐
 Passed House
☐
 Passed Senate
☐
 Signed by Governor
☐
 Became Law

Description

Benefit limited liability companies.  Authorizes a Virginia limited liability company to elect to be a benefit limited liability company. A benefit limited liability company is required to have, as one of its purposes, the purpose of creating a general public benefit. In addition, a benefit limited liability company may have the purpose of creating one or more specific public benefits. The measure expands upon legislation enacted in the 2011 Session that gave stock corporations the option to be benefit corporations. View Full Text »

Outcome

Bill Has Failed

History

  • 01/10/2012 Committee
  • 01/10/2012 Prefiled and ordered printed; offered 01/11/12 12100083D
  • 01/10/2012 Referred to Committee on Commerce and Labor
  • 01/17/2012 Passed by for the day in Commerce and Labor
  • 01/22/2012 Impact statement from SCC (HB354)
  • 02/02/2012 Tabled in Commerce and Labor