Securities Act; increases maximum civil penalty that SCC may impose for violation thereof. (SB1243)
Introduced By
Sen. Walter Stosch (R-Glen Allen) with support from co-patron Del. Bob Purkey (R-Virginia Beach)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Securities Act; penalties. Increases the maximum civil penalty that the State Corporation Commission may impose for a violation of the Virginia Securities Act, any order, rule, or regulation issued under the Act, or any knowing material misrepresentation, from $5,000 to $10,000. The measure also authorizes the Commission to order sellers to rescind unlawful sales and other activities and to make restitution. Currently, the Commission is authorized only to request rescission and restitution. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
01/13/2009 | Prefiled and ordered printed; offered 01/14/09 090040864 |
01/13/2009 | Referred to Committee on Commerce and Labor |
01/19/2009 | Reported from Commerce and Labor with amendments (14-Y 0-N) (see vote tally) |
01/21/2009 | Constitutional reading dispensed (39-Y 0-N) (see vote tally) |
01/21/2009 | Impact statement from SCC (SB1243) |
01/22/2009 | Read second time |
01/22/2009 | Reading of amendments waived |
01/22/2009 | Committee amendments agreed to |
01/22/2009 | Engrossed by Senate as amended SB1243E |
01/22/2009 | Printed as engrossed 090040864-E |
01/23/2009 | Read third time and passed Senate (40-Y 0-N) (see vote tally) |
01/30/2009 | Impact statement from SCC (SB1243E) |
02/02/2009 | Placed on Calendar |
02/02/2009 | Read first time |
02/02/2009 | Referred to Committee on Commerce and Labor |
02/17/2009 | Reported from Commerce and Labor (18-Y 2-N) (see vote tally) |
02/19/2009 | Read second time |
02/20/2009 | Read third time |
02/20/2009 | Amendment by Delegate Kilgore agreed to |
02/20/2009 | Engrossed by House as amended |
02/20/2009 | Passed House with amendment (99-Y 1-N) |
02/20/2009 | VOTE: --- PASSAGE (99-Y 1-N) (see vote tally) |
02/24/2009 | House amendment agreed to by Senate (39-Y 0-N) (see vote tally) |
02/28/2009 | Enrolled |
02/28/2009 | Bill text as passed Senate and House (SB1243ER) |
02/28/2009 | Signed by Speaker |
03/03/2009 | Impact statement from SCC (SB1243ER) |
03/04/2009 | Signed by President |
03/27/2009 | G Approved by Governor-Chapter 566 (effective 7/1/09) |
03/27/2009 | G Acts of Assembly Chapter text (CHAP0566) |