Virginia Stock Corporation Act; clarifying and technical changes. (HB1149)

Introduced By

Del. Mark Keam (D-Vienna)

Description

Virginia Stock Corporation Act. Makes clarifying and technical changes to the Virginia Stock Corporation Act. Many of the measure's provisions revise the legislation enacted in the 2019 Session that comprehensively updated the Act in accordance with the Model Business Corporation Act and that is scheduled to become effective on July 1, 2020. Several of the measure's provisions address the documentation required to be filed when a corporation converts to another type of business entity. The measure also repeals a section that provides that a foreign corporation authorized to transact business in the Commonwealth that domesticates to a domestic corporation is deemed to have withdrawn its certificate of authority when the certificate of domestication becomes effective, as it is duplicative of provisions addressed in this measure. Read the Bill »

Outcome

History