Employee stock ownership plan; authorizes option plans. (SB108)
Introduced By
Sen. Walter Stosch (R-Glen Allen)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Professional corporations; employee stock ownership plans. Authorizes a professional corporation to issue shares of its stock to, and authorizes its shareholders to transfer shares to, the trustees of an eligible employee stock ownership plan. An eligible employee stock ownership plan is a plan with trustees who are licensed to render the professional service for which the corporation is organized and that prohibits an individual not licensed to render the professional service from owning, or being issued, shares in the professional corporation. However, professional corporations rendering the services of certified public accountants, architects, engineers, land surveyors, certified landscape architects or certified interior designers may have employee stock ownership plans that permit individuals who are not duly licensed to render such service or legally authorized to use such title, as appropriate, to render these services to participate in the plan if the minimum percentages of equity interest required for stock ownership generally are satisfied. Read the Bill »
Status
04/05/2006: signed by governor
History
Date | Action |
---|---|
01/09/2006 | Prefiled and ordered printed; offered 01/11/06 067038824 |
01/09/2006 | Referred to Committee on Commerce and Labor |
01/16/2006 | Reported from Commerce and Labor (15-Y 0-N) |
01/18/2006 | Fiscal impact statement from DPB (SB108) |
01/18/2006 | Constitutional reading dispensed (39-Y 0-N) |
01/18/2006 | VOTE: (39-Y 0-N) |
01/19/2006 | Read second time and engrossed |
01/20/2006 | Read third time and passed Senate (38-Y 0-N) |
01/20/2006 | VOTE: (38-Y 0-N) |
01/20/2006 | Communicated to House |
01/23/2006 | Placed on Calendar |
01/23/2006 | Read first time |
01/23/2006 | Referred to Committee on Commerce and Labor |
02/28/2006 | Reported from Commerce and Labor with substitute (22-Y 0-N) |
03/01/2006 | Committee substitute printed 062768824-H1 |
03/02/2006 | Read second time |
03/03/2006 | Passed by for the day |
03/06/2006 | Fiscal impact statement from DPB (SB108H1) |
03/06/2006 | Read third time |
03/06/2006 | Committee substitute agreed to 062768824-H1 |
03/06/2006 | Engrossed by House - committee substitute SB108H1 |
03/06/2006 | Passed House with substitute BLOCK VOTE (99-Y 0-N) |
03/06/2006 | VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) |
03/08/2006 | House substitute agreed to by Senate (40-Y 0-N) |
03/08/2006 | VOTE: (40-Y 0-N) |
03/15/2006 | Bill text as passed Senate and House (SB108ER) |
03/15/2006 | Enrolled |
03/15/2006 | Signed by Speaker |
03/16/2006 | Signed by President |
03/23/2006 | Fiscal impact statement from DPB (SB108ER) |
04/05/2006 | G Approved by Governor-Chapter 715 (effective 7/1/06) |
04/17/2006 | G Acts of Assembly Chapter text (CHAP0715) |