Limited liability companies; entity conversions. (HB955)

Introduced By

Del. Mark Keam (D-Vienna)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Limited liability companies; entity conversions. Restructures the Virginia Limited Liability Company Act (Act) to locate into a new article all existing provisions related to the formation of a limited liability company (LLC) by entity conversion. In addition, the measure brings the current business entity conversion provisions in the Virginia Business Trust Act into alignment with the entity conversion provisions of the Act as restructured in this measure. The measure also provides for the reorganization of an LLC in bankruptcy, as is provided for Virginia stock and nonstock corporations. The measure makes technical adjustments to the Act to bring it in conformance with similar provisions applicable to other business entities. Read the Bill »


Bill Has Passed


01/12/2016Prefiled and ordered printed; offered 01/13/16 16103571D
01/12/2016Referred to Committee on Commerce and Labor
01/21/2016Impact statement from SCC (HB955)
01/26/2016Reported from Commerce and Labor (22-Y 0-N) (see vote tally)
01/28/2016Read first time
01/29/2016Read second time and engrossed
02/01/2016Read third time and passed House BLOCK VOTE (98-Y 0-N)
02/01/2016VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
02/02/2016Constitutional reading dispensed
02/02/2016Referred to Committee on Commerce and Labor
02/22/2016Reported from Commerce and Labor (15-Y 0-N) (see vote tally)
02/24/2016Constitutional reading dispensed (39-Y 0-N) (see vote tally)
02/25/2016Read third time
02/25/2016Passed Senate (40-Y 0-N) (see vote tally)
02/29/2016Bill text as passed House and Senate (HB955ER)
02/29/2016Signed by Speaker
03/01/2016Impact statement from SCC (HB955ER)
03/03/2016Signed by President
03/04/2016Enrolled Bill communicated to Governor on 3/4/16
03/04/2016G Governor's Action Deadline Midnight, March 11, 2016
03/07/2016G Approved by Governor-Chapter 288 (effective 7/1/16)
03/07/2016G Acts of Assembly Chapter text (CHAP0288)