Securities Act; regulation of federal covered securities. (HB1754)

Introduced By

Del. Glenn Davis (R-Virginia Beach) with support from co-patron Del. Mark Keam (D-Vienna)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Securities Act; regulation of federal covered securities. Authorizes the State Corporation Commission (SCC) to require the issuer of a security that is a federal covered security under federal crowdfunding rules to file a notice and consent to service of process when (i) the principal place of business of the issuer is in the Commonwealth or (ii) purchasers of 50 percent or more of the securities sold by the issuer pursuant to an offering made in reliance on such rule are residents of the Commonwealth. The measure allows the SCC to assess a filing fee not to exceed $100 in connection with such a filing. Amends § 13.1-523.1, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/08/2017Committee
01/08/2017Prefiled and ordered printed; offered 01/11/17 17101536D
01/08/2017Referred to Committee on Commerce and Labor
01/12/2017Impact statement from SCC (HB1754)
01/17/2017Reported from Commerce and Labor (20-Y 0-N) (see vote tally)
01/19/2017Read first time
01/20/2017Passed by for the day
01/23/2017Read second time and engrossed
01/24/2017Read third time and passed House BLOCK VOTE (97-Y 0-N)
01/24/2017VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally)
01/25/2017Constitutional reading dispensed
01/25/2017Referred to Committee on Commerce and Labor
02/13/2017Reported from Commerce and Labor (14-Y 0-N) (see vote tally)
02/15/2017Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/16/2017Read third time
02/16/2017Passed Senate (39-Y 0-N) (see vote tally)
02/16/2017Reconsideration of Senate passage agreed to by Senate (40-Y 0-N) (see vote tally)
02/16/2017Passed Senate (40-Y 0-N) (see vote tally)
02/20/2017Enrolled
02/20/2017Bill text as passed House and Senate (HB1754ER)
02/20/2017Signed by Speaker
02/21/2017Signed by President
02/21/2017Enrolled Bill communicated to Governor on 2/21/17
02/21/2017G Governor's Action Deadline Midnight, March 27, 2017
02/22/2017Impact statement from SCC (HB1754ER)
03/24/2017G Approved by Governor-Chapter 754 (effective 7/1/17)
03/24/2017G Acts of Assembly Chapter text (CHAP0754)