HB 589 Corporations; general powers and special kinds of business.
W. Tayloe Murphy, Jr. | all patrons    ...    notes
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Summary:
Corporations; general powers. Authorizes public service companies to enter into joint ventures or similar business associations subject to the following limitations: (i) the ventures must encompass activities in which public service companies could independently engage, (ii) public service company equity and debt with recourse in any single venture may not exceed one percent of equity, and (iii) total public service company equity and debt with recourse in all such joint ventures or associations may not exceed five percent of net equity. All such ventures are subject to approval by the Virginia State Corporation Commission.

Full text:
01/19/96  House: Presented & ordered printed 963351376  pdf
02/06/96  House: Committee substitute printed 961054376-H1  pdf
02/28/96  House: Bill text as passed House and Senate (HB589ER)  pdf
03/25/96  Governor: Acts of Assembly Chapter text (CHAP0257)  pdf

Status:
01/19/96  House: Presented & ordered printed 963351376
01/19/96  House: Referred to Committee on Corporations, Insurance and Banking
02/06/96  House: Reported from C. I. B. w/sub. (19-Y 2-N)
02/06/96  House: Committee substitute printed 961054376-H1
02/07/96  House: Read first time
02/08/96  House: Read second time
02/08/96  House: Committee substitute agreed to 961054376-H1
02/08/96  House: Engrossed by House - com. sub. 961054376-H1
02/09/96  House: Read third time and passed House (93-Y 4-N)
02/09/96  House: VOTE: PASSAGE (93-Y 4-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 (14-Y 1-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)
02/28/96  House: Bill text as passed House and Senate (HB589ER)
03/06/96  House: Enrolled
03/06/96  House: Signed by Speaker
03/07/96  Senate: Signed by President
03/19/96  Governor: Approved by Governor-Chapter 257 (effective 7/1/96)
03/25/96  Governor: Acts of Assembly Chapter text (CHAP0257)