Limited liability companies; derivative actions. (SB1356)
Introduced By
Sen. Walter Stosch (R-Glen Allen)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Limited liability companies; derivative actions. Removes a provision that allows a member of a limited liability company to bring a derivative action without first demanding that the members or managers of the limited liability company bring the action if an effort to cause the members or managers to bring the action is not likely to succeed. Without this "futility" exception, a member will be required in every case to make a demand on the limited liability company before bringing a derivative action. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
01/12/2011 | Prefiled and ordered printed; offered 01/12/11 11102336D |
01/12/2011 | Referred to Committee on Commerce and Labor |
01/17/2011 | Reported from Commerce and Labor (14-Y 0-N) (see vote tally) |
01/19/2011 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
01/20/2011 | Read second time and engrossed |
01/21/2011 | Read third time and passed Senate (35-Y 0-N) (see vote tally) |
01/21/2011 | Reconsideration of passage agreed to by Senate (35-Y 0-N) (see vote tally) |
01/21/2011 | Passed Senate (35-Y 0-N) (see vote tally) |
02/07/2011 | Placed on Calendar |
02/07/2011 | Read first time |
02/07/2011 | Referred to Committee on Commerce and Labor |
02/17/2011 | Reported from Commerce and Labor with amendment (21-Y 1-N) (see vote tally) |
02/21/2011 | Read second time |
02/22/2011 | Read third time |
02/22/2011 | Committee amendment agreed to |
02/22/2011 | Engrossed by House as amended |
02/22/2011 | Passed House with amendment (96-Y 0-N) |
02/22/2011 | VOTE: PASSAGE (96-Y 0-N) (see vote tally) |
02/23/2011 | House amendment agreed to by Senate (40-Y 0-N) (see vote tally) |
03/03/2011 | Enrolled |
03/03/2011 | Bill text as passed Senate and House (SB1356ER) |
03/03/2011 | Signed by Speaker |
03/06/2011 | Signed by President |
03/22/2011 | G Approved by Governor-Chapter 379 (effective 7/1/11) |
03/22/2011 | G Acts of Assembly Chapter text (CHAP0379) |