HB 1957 Securities Act; conformance to federal law.
George H. Heilig, Jr. | all patrons    ...    notes
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Summary:
Securities Act; conformance to federal law. Amends the Virginia Securities Act to conform with the federal National Securities Markets Improvement Act of 1996. The federal legislation preempts certain existing laws and regulations of the Commonwealth. Definitions are amended and added to recognize new federal definitions. Additionally, this bill provides rule-making authority to the Commission to accommodate further changes necessitated by the federal law. These rules will deal with the notice and renewal filing requirements for mutual funds; the notice and renewal requirements for investment advisors with over $25 million under management; books and records, net capital, and reporting requirements for broker-dealers; and fees to be paid, bonding, books and records, net capital, and reporting requirements for investment advisors.

Full text:
01/09/97  House: Presented & ordered printed 978025845  pdf
02/22/97  House: Bill text as passed House and Senate (HB1957ER)  pdf
03/18/97  Governor: Acts of Assembly Chapter text (CHAP0279)  pdf

Amendments:
Senate amendments
Senate amendments engrossed

Status:
01/09/97  House: Presented & ordered printed 978025845
01/09/97  House: Referred to Committee on Corporations, Insurance and Banking
01/14/97  House: Reported from Corp., Ins. & Banking (21-Y 0-N)
01/15/97  House: Read first time
01/16/97  House: Read second time and engrossed
01/17/97  House: Read third time and passed House (Block Vote) (97-Y 0-N)
01/17/97  House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
01/17/97  House: Communicated to Senate
01/20/97  Senate: Constitutional reading dispensed (37-Y 0-N)
01/20/97  Senate: Referred to Committee on Commerce and Labor
02/10/97  Senate: Reported from C. & L. with amendments (15-Y 0-N)
02/11/97  Senate: Const. reading disp., passed by for the day (40-Y 0-N)
02/11/97  Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
02/12/97  Senate: Read third time
02/12/97  Senate: Reading of amendments waived
02/12/97  Senate: Committee amendments agreed to
02/12/97  Senate: Engrossed by Senate as amended
02/12/97  Senate: Passed Senate with amendments (40-Y 0-N)
02/12/97  Senate: VOTE: PASSAGE (40-Y 0-N)
02/13/97  House: Placed on Calendar
02/14/97  House: Senate amendments agreed to by House (96-Y 0-N)
02/14/97  House: VOTE: ADOPTION (96-Y 0-N)
02/22/97  House: Bill text as passed House and Senate (HB1957ER)
02/26/97  House: Enrolled
02/26/97  House: Signed by Speaker
02/27/97  Senate: Signed by President
03/12/97  Governor: Approved by Governor-Chapter 279 (effective 7/1/97)
03/18/97  Governor: Acts of Assembly Chapter text (CHAP0279)