Limited Liability Company Act; reorganizes provisions thereof. (SB573)

Introduced By

Sen. Dick Saslaw (D-Springfield)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Virginia Limited Liability Company Act. Reorganizes provisions of the Virginia Limited Liability CompanyAct regarding the winding up, cancellation, and reinstatement of limited liability companies. The revisions to the structure of the Act conform to the organization of the Virginia Stock and Nonstock Corporation Acts. Other provisions address the involuntary cancellation of domestic and foreign limited liability companies and state that upon certain events a limited liability company's existence is cancelled, rather than stating that they result in cancellation of its certificate of organization. The measure also (i) provides a uniform method of reinstating a domestic limited liability company that has been canceled, (ii) authorizes the removal of the initial registered office and registered agent information in the articles of organization if a statement of change is on file with the Commission, and (iii) makes technical clarifications. Read the Bill »


Bill Has Passed


01/09/2008Prefiled and ordered printed; offered 01/09/08 080089864
01/09/2008Referred to Committee on Commerce and Labor
01/14/2008Reported from Commerce and Labor (14-Y 0-N) (see vote tally)
01/16/2008Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/17/2008Read second time and engrossed
01/18/2008Read third time and passed Senate (39-Y 0-N) (see vote tally)
01/18/2008Communicated to House
01/23/2008Impact statement from SCC (SB573)
02/11/2008Placed on Calendar
02/11/2008Read first time
02/11/2008Referred to Committee on Commerce and Labor
02/14/2008Reported from Commerce and Labor (22-Y 0-N)
02/18/2008Read second time
02/19/2008Read third time
02/19/2008Passed House BLOCK VOTE (97-Y 0-N)
02/19/2008VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
02/20/2008Bill text as passed Senate and House (SB573ER)
02/20/2008Signed by Speaker
02/22/2008Signed by President
02/25/2008Impact statement from SCC (SB573ER)
03/02/2008G Approved by Governor-Chapter 107 (effective 4/1/09)
03/02/2008G Approved by Governor-Chapter 108 (effective 4/1/09)
03/04/2008G Acts of Assembly Chapter text (CHAP0108)