Low-profit limited liability companies; definition. (HB261)
Introduced By
Sen. Jennifer McClellan (D-Richmond)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Low-profit limited liability companies. Provides for the designation of a type of limited liability company as low-profit limited liability company. A low-profit limited liability company is a limited liability company that significantly furthers the accomplishment of a charitable or educational purpose, would not have been formed but for the entitys relationship to the accomplishment of charitable or educational purposes, does not have as a significant purpose the production of income or the appreciation of property, and does not have a political or legislative purpose. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/11/2010 | Prefiled and ordered printed; offered 01/13/10 10101558D |
01/11/2010 | Referred to Committee on Commerce and Labor |
01/17/2010 | Impact statement from SCC (HB261) |
01/28/2010 | Continued to 2011 in Commerce and Labor |
12/03/2010 | Left in Commerce and Labor |