HB 1009 Corporations; voting on amendments by voting groups.
W. Tayloe Murphy, Jr. | all patrons    ...    notes
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Summary:
Corporations; voting on amendments by voting groups. Permits Virginia corporations to exclude from class votes amendments to articles of incorporation increasing or decreasing the number of shares of a voting class of stock, but not below the number of shares of the class then outstanding. This exclusion can be included in the original articles of incorporation, or in an amendment (i) that is adopted prior to the issuance of any shares of such class or (ii) that is authorized by the required vote of the shares of such class. The bill also provides that the holders of preferred stock which may be converted into common stock, as well as the holders of the underlying common stock (into which such preferred stock is convertible), vote together on any proposed amendment to a corporation's articles of incorporation only when both classes will be affected the same way.

Full text:
01/22/96  House: Presented & ordered printed 962293376  pdf
02/29/96  House: Bill text as passed House and Senate (HB1009ER)  pdf
03/22/96  Governor: Acts of Assembly Chapter text (CHAP0238)  pdf

Status:
01/22/96  House: Presented & ordered printed 962293376
01/22/96  House: Referred to Committee on Corporations, Insurance and Banking
02/06/96  House: Reported from Corp., Ins. & Banking (22-Y 0-N)
02/07/96  House: Read first time
02/08/96  House: Read second time and engrossed
02/09/96  House: Read third time and passed House (Block Vote) (99-Y 0-N)
02/09/96  House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
02/09/96  House: Reconsideration of passage agreed to by House
02/09/96  House: Passed House (Block Vote) (100-Y 0-N)
02/09/96  House: VOTE: BLOCK VOTE PASSAGE #2 (100-Y 0-N)
02/09/96  House: Communicated to Senate
02/12/96  Senate: Read first time
02/12/96  Senate: Referred to Committee on Commerce and Labor
02/19/96  Senate: Reported from Commerce and Labor (15-Y 0-N)
02/20/96  Senate: Constitutional reading dispensed (40-Y 0-N)
02/20/96  Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
02/21/96  Senate: Read third time
02/21/96  Senate: Passed Senate (40-Y 0-N)
02/21/96  Senate: VOTE: PASSAGE (40-Y 0-N)
02/29/96  House: Bill text as passed House and Senate (HB1009ER)
03/04/96  House: Enrolled
03/04/96  House: Signed by Speaker
03/05/96  Senate: Signed by President
03/16/96  Governor: Approved by Governor-Chapter 238 (effective 7/1/96)
03/22/96  Governor: Acts of Assembly Chapter text (CHAP0238)