Limited liability companies; assignment of interest. (SB779)
Introduced By
Sen. John Watkins (R-Midlothian)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
✓ |
Became Law |
Description
Limited liability companies; assignment of interest. Amends the Virginia Limited Liability Company Act to permit the assignee of an interest in a limited liability company to participate in the management and affairs of the limited liability company, become a member of the limited liability company, receive distributions, and have other rights, if provided in the articles of organization or an operating agreement. The measure overturns the Virginia Supreme Court's finding in Ott v. Monroe that current law precludes such rights being transferred to an assignee. Read the Bill »
Outcome
Bill Has Passed
History
| Date | Action |
|---|---|
| 12/18/2012 | Prefiled and ordered printed; offered 01/09/13 13101816D |
| 12/18/2012 | Referred to Committee on Commerce and Labor |
| 01/06/2013 | Impact statement from SCC (SB779) |
| 01/14/2013 | Reported from Commerce and Labor (15-Y 0-N) (see vote tally) |
| 01/16/2013 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
| 01/17/2013 | Read second time and engrossed |
| 01/18/2013 | Read third time and passed Senate (38-Y 0-N) (see vote tally) |
| 01/25/2013 | Placed on Calendar |
| 01/25/2013 | Read first time |
| 01/25/2013 | Referred to Committee for Courts of Justice |
| 02/11/2013 | Referred from Courts of Justice |
| 02/11/2013 | Referred to Committee on Commerce and Labor |
| 02/14/2013 | Reported from Commerce and Labor (22-Y 0-N) (see vote tally) |
| 02/18/2013 | Read second time |
| 02/19/2013 | Read third time |
| 02/19/2013 | Passed House BLOCK VOTE (100-Y 0-N) |
| 02/19/2013 | VOTE: BLOCK VOTE PASSAGE (100-Y 0-N) (see vote tally) |
| 02/22/2013 | Enrolled |
| 02/22/2013 | Bill text as passed Senate and House (SB779ER) |
| 02/22/2013 | Signed by Speaker |
| 02/23/2013 | Signed by President |
| 02/25/2013 | Impact statement from SCC (SB779ER) |
| 03/25/2013 | Governor's recommendation received by Senate |
| 04/02/2013 | Placed on Calendar |
| 04/03/2013 | G Approved by Governor-Chapter 772 (effective 7/1/13) |
| 04/03/2013 | Senate concurred in Governor's recommendation (40-Y 0-N) (see vote tally) |
| 04/03/2013 | House concurred in Governor's recommendation (92-Y 1-N) |
| 04/03/2013 | VOTE: ADOPTION (92-Y 1-N) (see vote tally) |
| 04/03/2013 | G Governor's recommendation adopted |
| 04/03/2013 | Reenrolled |
| 04/03/2013 | Reenrolled bill text (SB779ER2) |
| 04/03/2013 | Signed by President as reenrolled |
| 04/03/2013 | Signed by Speaker as reenrolled |
| 04/03/2013 | Enacted, Chapter 772 (effective 7/1/13) |
| 04/03/2013 | G Acts of Assembly Chapter text (CHAP0772) |