Banks; minimum capital stock requirement. (HB1062)

Introduced By

Del. Ron Villanueva (R-Virginia Beach)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Banks; minimum capital stock requirement. Provides that the directive that the State Corporation Commission not issue a certificate of authority to a bank unless it finds that individuals have subscribed for specific amounts of the bank's capital stock and surplus does not apply to the Commission's issuance of such a certificate to a bank holding company or to a resulting bank in connection with certain types of mergers involving the holding company and its subsidiary bank. Amends § 6.2-816, of the Code of Virginia. Read the Bill »


Bill Has Passed


01/08/2014Presented and ordered printed 14103590D
01/08/2014Referred to Committee on Commerce and Labor
01/15/2014Impact statement from SCC (HB1062)
01/16/2014Reported from Commerce and Labor (21-Y 0-N) (see vote tally)
01/20/2014Read first time
01/21/2014Read second time and engrossed
01/22/2014Read third time and passed House BLOCK VOTE (97-Y 0-N)
01/22/2014VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally)
01/23/2014Impact statement from SCC (HB1062)
01/23/2014Constitutional reading dispensed
01/23/2014Referred to Committee on Commerce and Labor
02/17/2014Reported from Commerce and Labor (15-Y 0-N) (see vote tally)
02/19/2014Constitutional reading dispensed (40-Y 0-N)
02/20/2014Read third time
02/20/2014Passed Senate (40-Y 0-N)
02/24/2014Bill text as passed House and Senate (HB1062ER)
02/24/2014Signed by Speaker
02/25/2014Impact statement from SCC (HB1062ER)
02/26/2014Signed by President
03/07/2014G Approved by Governor-Chapter 221 (effective 7/1/14)
03/07/2014G Acts of Assembly Chapter text (CHAP0221)


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 25 seconds.