Virginia Senate Bill 146 (Prior Session Legislation)

---

Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 2 2008 - 100% progression
Action: 2008-03-04 - Governor: Acts of Assembly Chapter text (CHAP0091)

Stock and nonstock corporations. Authorizes the State Corporation Commission to correct Commission records at any time to eliminate clerical errors and eliminate filings made by a person without authority to act for the stock or nonstock corporation. The period within which a shareholder is required to file a petition asserting that a certification contains a misstatement of a material fact is increased from 10 to 30 days after the effective date of the certificate. The measure clarifies that actions required to be adopted, as well as actions required to be taken, at a shareholders meeting may be adopted or taken without a meeting if the action is adopted or taken by all of the shareholders entitled to vote. The requirement that a stock corporation give nonvoting shareholders written notice of certain actions not less than 15 days before the action becomes effective is repealed. A provision that allowed an exception to the requirement that, unless otherwise provided in the articles of incorporation, each class of shares be allowed to vote as a separate voting group on a proposed amendment to the articles that would increase or decrease the aggregate number of authorized shares of the class is repealed. Other elements revise provisions relating to the time limit on the commencement of proceedings to enforce a claim against a dissolved corporation, limitations on remedial actions, maintaining records with respect to beneficial owners whose shares are held by a nominee, and proceedings to determine the security to be provided for claims involving a dissolved corporation.

Stock and nonstock corporations; authorizes SCC to correct Commission records at any time.

Sen. Walter Stosch [R]

Date	Chamber	Action
2008-03-04		Governor: Acts of Assembly Chapter text (CHAP0091)
2008-03-02		Governor: Approved by Governor-Chapter 91 (effective 7/1/08)
2008-02-22		Senate: Signed by President
2008-02-20		House: Signed by Speaker
2008-02-20		Senate: Bill text as passed Senate and House (SB146ER)
2008-02-20		Senate: Enrolled
2008-02-19		House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
2008-02-19		House: Passed House BLOCK VOTE (97-Y 0-N)
2008-02-19		House: Read third time
2008-02-18		House: Read second time
2008-02-14		House: Reported from Commerce and Labor (22-Y 0-N)
2008-02-11		House: Referred to Committee on Commerce and Labor
2008-02-11		House: Read first time
2008-02-11		House: Placed on Calendar
2008-01-18		Senate: Communicated to House
2008-01-18		Senate: Read third time and passed Senate (39-Y 0-N)
2008-01-17		Senate: Printed as engrossed 086980332-E
2008-01-17		Senate: Engrossed by Senate as amended SB146E
2008-01-17		Senate: Committee amendments agreed to
2008-01-17		Senate: Reading of amendments waived
2008-01-17		Senate: Read second time
2008-01-16		Senate: Constitutional reading dispensed (39-Y 0-N)
2008-01-14		Senate: Reported from Commerce and Labor with amendments (14-Y 0-N)
2008-01-04		Senate: Referred to Committee on Commerce and Labor
2008-01-04		Senate: Prefiled and ordered printed; offered 01/09/08 086980332

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?081+sum+SB146