Limited liability companies; SCC to correct its records to eliminate effects of clerical error, etc. (HB1040)

Introduced By

Del. Kathy Byron (R-Lynchburg)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Limited liability companies.  Authorizes the State Corporation Commission (SCC) to correct its records to eliminate the effects of clerical errors and filings made by a person without authority to act on behalf of a limited liability company. Similar provisions exist in the Code for stock and nonstock corporations. The measure also authorizes the SCC to assess limited liability companies with its annual registration fee in the month it was organized or qualified to transact business. Currently, all limited liability companies are assessed an annual registration fee on July 1, which is due by October 1 to avoid a penalty. The SCC is required to enter an order by August 1, 2010, regarding the schedule for implementing the change in assessment dates. Read the Bill »


Bill Has Passed


01/13/2010Prefiled and ordered printed; offered 01/13/10 10101170D
01/13/2010Referred to Committee on Commerce and Labor
01/28/2010Reported from Commerce and Labor with amendment (22-Y 0-N) (see vote tally)
02/01/2010Read first time
02/02/2010Read second time
02/02/2010Committee amendment agreed to
02/02/2010Engrossed by House as amended HB1040E
02/02/2010Printed as engrossed 10101170D-E
02/02/2010Impact statement from SCC (HB1040)
02/03/2010Read third time and passed House BLOCK VOTE(98-Y 0-N)
02/03/2010Read third time and passed House BLOCK VOTE (98-Y 0-N)
02/03/2010VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
02/04/2010Impact statement from SCC (HB1040E)
02/04/2010Constitutional reading dispensed
02/04/2010Referred to Committee on Commerce and Labor
02/09/2010Impact statement from SCC (HB1040E)
03/01/2010Reported from Commerce and Labor (13-Y 0-N) (see vote tally)
03/03/2010Constitutional reading dispensed (40-Y 0-N) (see vote tally)
03/04/2010Read third time
03/04/2010Passed Senate (40-Y 0-N) (see vote tally)
03/11/2010Bill text as passed House and Senate (HB1040ER)
03/11/2010Impact statement from SCC (HB1040ER)
03/11/2010Signed by Speaker
03/13/2010Signed by President
04/12/2010G Approved by Governor-Chapter 703 (effective 7/1/10)
04/12/2010G Acts of Assembly Chapter text (CHAP0703)


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 1 minute.