Banking institutions; reclassification or conversion of shares of stock. (SB884)
Introduced By
Sen. Don McEachin (D-Richmond)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Banking institutions; reclassification or conversion of shares. Authorizes a bank, savings institution, bank holding company, savings and loan holding company, or multiple or diversified savings and loan holding company organized as a stock corporation to reclassify or convert a portion of the shares of its stock from one class or series into another class or series for the purpose of ceasing to be, or avoiding the status of, an institution that is required to file periodic reports under provisions of the Securities Exchange Act of 1934, if authorized by its articles of incorporation. Such a reclassification or conversion is exempt from appraisal rights provisions of the Stock Corporation Act if the institution's directors recommend the approval and all shares are reclassified or converted on the same terms. Read the Bill »
Outcome
History
| Date | Action |
|---|---|
| 12/31/2008 | Prefiled and ordered printed; offered 01/14/09 |
| 12/31/2008 | Prefiled and ordered printed; offered 01/14/09 090051273 |
| 12/31/2008 | Referred to Committee on Commerce and Labor |
| 01/19/2009 | Reported from Commerce and Labor with substitute (14-Y 0-N) (see vote tally) |
| 01/19/2009 | Committee substitute printed 090150273-S1 |
| 01/21/2009 | Constitutional reading dispensed (39-Y 0-N) (see vote tally) |
| 01/22/2009 | Read second time |
| 01/22/2009 | Reading of substitute waived |
| 01/22/2009 | Committee substitute agreed to 090150273-S1 |
| 01/22/2009 | Engrossed by Senate - committee substitute SB884S1 |
| 01/23/2009 | Read third time and passed Senate (40-Y 0-N) (see vote tally) |
| 01/26/2009 | Impact statement from SCC (SB884S1) |
| 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 (20-Y 0-N) (see vote tally) |
| 02/19/2009 | Read second time |
| 02/20/2009 | Passed by for the day |
| 02/23/2009 | Passed by for the day |
| 02/24/2009 | Read third time |
| 02/24/2009 | Passed House BLOCK VOTE (99-Y 0-N) |
| 02/24/2009 | VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally) |
| 02/28/2009 | Enrolled |
| 02/28/2009 | Bill text as passed Senate and House (SB884ER) |
| 02/28/2009 | Signed by President |
| 02/28/2009 | Signed by Speaker |
| 03/03/2009 | Impact statement from SCC (SB884ER) |
| 03/27/2009 | G Approved by Governor-Chapter 253 (effective 7/1/09) |
| 03/27/2009 | G Acts of Assembly Chapter text (CHAP0253) |