HB 316 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 SB 479.

• Patrick A. Hope Democratic · primary

1. Jan 9, 2026 Prefiled and ordered printed; Offered 01-14-2026 26103481D · lower
2. Jan 9, 2026 Referred to Committee on Labor and Commerce · lower
3. Jan 19, 2026 Assigned HCL sub: Subcommittee #1 · lower
4. Jan 25, 2026 Fiscal Impact Statement from State Corporation Commission (HB316) · lower
5. Jan 27, 2026 House subcommittee offered · lower
6. Jan 27, 2026 Subcommittee recommends reporting with substitute (9-Y 0-N) · lower
7. Jan 29, 2026 Reported from Labor and Commerce with substitute (22-Y 0-N) · lower
8. Jan 29, 2026 Committee substitute printed 26106247D-H1 · lower
9. Feb 1, 2026 Fiscal Impact Statement from State Corporation Commission (HB316) · lower
10. Feb 2, 2026 Read first time · lower
11. Feb 3, 2026 Read second time · lower
12. Feb 3, 2026 committee substitute agreed to · lower
13. Feb 3, 2026 Engrossed by House - committee substitute · lower
14. Feb 4, 2026 Read third time and passed House (97-Y 1-N 0-A) · lower
15. Feb 4, 2026 Reconsideration of passage agreed to by House · lower
16. Feb 4, 2026 Passed House (98-Y 0-N 0-A) · lower
17. Feb 5, 2026 Constitutional reading dispensed (on 1st reading) · upper
18. Feb 5, 2026 Referred to Committee on Commerce and Labor · upper
19. Mar 9, 2026 Senate committee offered · upper
20. Mar 9, 2026 Reported from Commerce and Labor with amendments (14-Y 0-N) · upper
21. Mar 10, 2026 Rules suspended · upper
22. Mar 10, 2026 Constitutional reading dispensed (on 2nd reading) (37-Y 0-N 0-A) · upper
23. Mar 10, 2026 Passed by for the day (Voice Vote) · upper
24. Mar 11, 2026 Read third time · upper
25. Mar 11, 2026 Commerce and Labor Amendments agreed to · upper
26. Mar 11, 2026 Engrossed by Senate as amended · upper
27. Mar 11, 2026 Passed Senate with amendments Block Vote (39-Y 0-N 0-A) · upper
28. Mar 11, 2026 Reconsideration of Senate passage agreed to by Senate Block Vote (40-Y 0-N 0-A) · upper
29. Mar 11, 2026 Passed Senate with amendments Block Vote (40-Y 0-N 0-A) · upper
30. Mar 12, 2026 Senate amendments agreed to by House (97-Y 0-N 0-A) · lower
31. Mar 30, 2026 Enrolled · lower
32. Mar 30, 2026 Bill text as passed House and Senate (HB316ER) · lower
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 · lower
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 (HB316) · lower
38. Apr 8, 2026 Approved by Governor-Chapter 383 (effective 7/1/2026) · executive
39. Apr 8, 2026 Acts of Assembly Chapter text (CHAP0383) · 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.

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