HB 2086 Securities; registration exemptions, philanthropic organizations.
Harry R. Purkey | all patrons    ...    notes
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Summary:
Securities; registration exemptions; philanthropic organizations. Reinstitutes the application of Virginia's securities laws to security offerings otherwise subject to the federal Philanthropy Protection Act of 1995. This federal law preempts state law concerning philanthropic organizations' securities offerings unless individual states, by positive legislative act, declare that this federal act will not preempt securities registration requirements otherwise applicable to philanthropic organizations. Pursuant to this bill, philanthropic organizations' securities offerings will be filed with the Virginia State Corporation's Securities Division, and these organizations will be required to comply with certain financial solvency and disclosure standards.

Full text:
01/14/97  House: Presented & ordered printed 970576845  pdf
02/19/97  House: Bill text as passed House and Senate (HB2086ER)  pdf
03/14/97  Governor: Acts of Assembly Chapter text (CHAP0145)  pdf

Status:
01/14/97  House: Presented & ordered printed 970576845
01/14/97  House: Referred to Committee on Corporations, Insurance and Banking
01/16/97  House: Reported from Corp., Ins. & Banking (21-Y 0-N)
01/17/97  House: Read first time
01/20/97  House: Read second time and engrossed
01/21/97  House: Read third time and passed House (Block Vote) (100-Y 0-N)
01/21/97  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
01/21/97  House: Communicated to Senate
01/22/97  Senate: Constitutional reading dispensed (38-Y 1-N)
01/22/97  Senate: Referred to Committee on Commerce and Labor
02/10/97  Senate: Reported from Commerce and Labor (14-Y 0-N 1-A)
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: Passed Senate (39-Y 0-N)
02/12/97  Senate: VOTE: PASSAGE (39-Y 0-N)
02/19/97  House: Bill text as passed House and Senate (HB2086ER)
02/25/97  House: Enrolled
02/25/97  Senate: Signed by President
02/26/97  House: Signed by Speaker
03/06/97  Governor: Approved by Governor-Chapter 145 (effective 7/1/97)
03/14/97  Governor: Acts of Assembly Chapter text (CHAP0145)