SB 479 VA

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Became Law

Virginia Stock Corporation Act. Makes various changes to the Virginia Stock Corporation Act, many of which conform the Act to recent changes to the Model Business Corporation Act produced by the Corporate Laws Committee of the American Bar Association's Business Law Section. Among other things, the bill (i) addresses the authority of a board of directors to delegate authority with respect to the issuance of shares to a committee of the board and one or more of the corporation's officers, (ii) removes the requirement for the cessation of shareholder agreements when a corporation becomes a public corporation, (iii) requires a corporation to maintain in its records certain shareholder agreements, (iv) removes the requirement for a corporation to maintain its financial statements for the three most recent fiscal years, and (v) authorizes a corporation to submit a matter to a vote of its shareholders even if, after approving the matter, the board of directors determines it no longer recommends such matter. This bill is identical to HB 316.

• David W. Marsden Democratic · primary

1. Jan 13, 2026 Prefiled and ordered printed; Offered 01-14-2026 26103811D · upper
2. Jan 13, 2026 Referred to Committee on Commerce and Labor · upper
3. Jan 25, 2026 Fiscal Impact Statement from State Corporation Commission (SB479) · upper
4. Jan 26, 2026 Senate committee offered · upper
5. Jan 26, 2026 Senate committee offered · upper
6. Jan 26, 2026 Reported from Commerce and Labor with substitute (15-Y 0-N) · upper
7. Jan 27, 2026 Committee substitute printed 26106187D-S1 · upper
8. Jan 28, 2026 Rules suspended · upper
9. Jan 28, 2026 Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A) · upper
10. Jan 28, 2026 Passed by for the day Block Vote (Voice Vote) · upper
11. Jan 28, 2026 Passed by for the day · upper
12. Jan 29, 2026 Read second time · upper
13. Jan 29, 2026 Commerce and Labor Substitute agreed to · upper
14. Jan 29, 2026 Engrossed by Senate (Voice Vote) · upper
15. Jan 29, 2026 Engrossed by Senate - committee substitute · upper
16. Jan 30, 2026 Read third time and passed Senate (38-Y 0-N 0-A) · upper
17. Feb 4, 2026 Placed on Calendar · lower
18. Feb 4, 2026 Read first time · lower
19. Feb 4, 2026 Referred to Committee on Labor and Commerce · lower
20. Feb 25, 2026 Assigned HCL sub: Subcommittee #1 · lower
21. Feb 26, 2026 Fiscal Impact Statement from State Corporation Commission (SB479) · upper
22. Mar 3, 2026 House subcommittee offered · lower
23. Mar 3, 2026 Subcommittee recommends reporting with amendment(s) (9-Y 0-N) · lower
24. Mar 5, 2026 Reported from Labor and Commerce with amendment(s) (21-Y 0-N) · lower
25. Mar 9, 2026 Read second time · lower
26. Mar 10, 2026 Read third time · lower
27. Mar 10, 2026 committee amendments agreed to · lower
28. Mar 10, 2026 Engrossed by House as amended · lower
29. Mar 10, 2026 Passed House with amendments (99-Y 0-N 0-A) · lower
30. Mar 11, 2026 House amendments agreed to by Senate (40-Y 0-N 0-A) · upper
31. Mar 30, 2026 Enrolled · upper
32. Mar 30, 2026 Bill text as passed Senate and House (SB479ER) · upper
33. Mar 30, 2026 Signed by President · upper
34. Mar 31, 2026 Signed by Speaker · lower
35. Mar 31, 2026 Enrolled Bill communicated to Governor on March 31, 2026 · upper
36. Mar 31, 2026 Governor's Action Deadline 11:59 p.m., April 13, 2026 · executive
37. Apr 6, 2026 Fiscal Impact Statement from State Corporation Commission (SB479) · upper
38. Apr 13, 2026 Approved by Governor-Chapter 892 (effective 7/1/2026) · executive

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Enrolled · PDF
• Enrolled · HTML
• House Amendments · HTML
• Labor and Commerce Amendment · HTML
• Labor and Commerce Amendment · HTML
• Subcommittee #1 Subcommittee Amendment · HTML
• Commerce and Labor Substitute · PDF
• Commerce and Labor Substitute · HTML
• Commerce and Labor Substitute · PDF
• Commerce and Labor Substitute · HTML
• Introduced · PDF
• Introduced · HTML