HB 2474 Limited Liability Company Act.
Alan A. Diamonstein | all patrons    ...    notes
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Summary:
Virginia Limited Liability Company Act. Amends the Virginia Limited Liability Company (LLC) Act to change default voting requirements for the admission of new members and the continuation of a limited liability company after an event of dissolution. The bill also: (i) amends limited liability company, limited partnership and merger statutes to accommodate mergers with general partnerships; (ii) clarifies that a limited liability company's articles of amendment may restate the articles of organization; (iii) clarifies the scope of a single-member limited liability company's operating agreement; (iv) adds new provisions providing for the domestication of non-United States entities as Virginia limited liability companies; (v) permits conversion of non-Virginia partnerships to Virginia limited liability companies; and (vi) eliminates the current prohibition against LLC perpetual duration.

Full text:
01/20/97  House: Presented & ordered printed 973696204  pdf
02/01/97  House: Printed as engrossed 973696204-E  pdf
02/20/97  House: Bill text as passed House and Senate (HB2474ER)  pdf
03/17/97  Governor: Acts of Assembly Chapter text (CHAP0190)  pdf

Amendments:
House amendments

Status:
01/20/97  House: Presented & ordered printed 973696204
01/20/97  House: Referred to Committee on Corporations, Insurance and Banking
01/30/97  House: Reported from C. I. B. w/amds. (21-Y 0-N)
01/31/97  House: Read first time
02/01/97  House: Read second time
02/01/97  House: Committee amendments agreed to
02/01/97  House: Engrossed by House as amended
02/01/97  House: Printed as engrossed 973696204-E
02/02/97  House: Read third time and passed House (Block Vote) (100-Y 0-N)
02/02/97  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
02/02/97  House: Communicated to Senate
02/03/97  Senate: Constitutional reading dispensed (36-Y 4-N)
02/03/97  Senate: Referred to Committee on Commerce and Labor
02/10/97  Senate: Reported from Commerce and Labor (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: Passed Senate (40-Y 0-N)
02/12/97  Senate: VOTE: PASSAGE (40-Y 0-N)
02/20/97  House: Bill text as passed House and Senate (HB2474ER)
02/25/97  House: Enrolled
02/25/97  Senate: Signed by President
02/26/97  House: Signed by Speaker
03/08/97  Governor: Approved by Governor-Chapter 190 (effective 7/1/97)
03/17/97  Governor: Acts of Assembly Chapter text (CHAP0190)