Banks; capital stock. (SB1609)

Introduced By

Sen. Dick Saslaw (D-Springfield)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Banks; capital stock. Repeals a provision that bars the State Corporation Commission from authorizing a bank to commence business if commissions or other compensation have been paid by the bank for the sale of stock in the bank. The measure also removes the requirement that both organizing directors of a bank be bonded for an amount equal to the total amount of money to be collected before the bank opens for business through stock subscriptions or from purchases of the bank's stock. Amends § 6.2-817, of the Code of Virginia. Read the Bill »


01/09/2019: Awaiting a Vote in the Commerce and Labor Committee


01/09/2019Prefiled and ordered printed; offered 01/09/19 19103985D
01/09/2019Referred to Committee on Commerce and Labor
01/11/2019Impact statement from SCC (SB1609)

Hearing Scheduled

This bill is scheduled to be heard in the Senate Commerce and Labor committee on 01/21/2019. It meets on Monday, 1/2 hour after adjournment - Senate Room B.

Duplicate Bills

The following bills are identical to this one: HB2419.

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