Business entities; conversion and domestication. (HB691)

Introduced By

Progress

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

Description

Business entities; conversion and domestication. Provides that, for the purposes of the Virginia Nonstock Corporation Act, the Virginia Limited Liability Act, and the Virginia Business Trust Act, "entity conversion" has the same meaning as "conversion" as defined in each respective act and that a certificate of entity conversion is the same as a certificate of conversion. Additionally, the bill provides that "incorporation surrender," "organization surrender," and "trust surrender" have the same meaning as "domestication" as defined in each such respective act and that a certificate of incorporation surrender, certificate of organization surrender, and a certificate of trust surrender are the same as a certificate of domestication. Read the Bill »

Status

01/25/2022: passed committee

History

Date	Action
01/11/2022	Committee
01/11/2022	Prefiled and ordered printed; offered 01/12/22 22101240D
01/11/2022	Referred to Committee on Commerce and Energy
01/19/2022	Impact statement from SCC (HB691)
01/25/2022	Reported from Commerce and Energy (21-Y 0-N) (see vote tally)