Virginia bills · 2026 Regular Session
Virginia HB 316
Virginia Stock Corporation Act; changes to Act.
- Introduced
- In committee
- Passed House
- Passed Senate
- To Governor
- Became law
Sponsors
- Patrick A. Hope (Democratic)
Summary
Official abstract published by the Virginia legislature· SUMMARY AS PASSED
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.
Text versions
- Introduced
- Subcommittee #1 Subcommittee Substitute
- Labor and Commerce Substitute
- Commerce and Labor Amendment
- Senate Amendments
- Enrolled
- Chaptered
Roll-call votes
State vote data last updated Oct 15, 2026, 8:04 PM.
| Date | Vote | Result | Your legislators |
|---|---|---|---|
| Mar 12, 2026 House | H VOTE: | pass | Set your home in Virginia to see |
| Mar 11, 2026 Senate | Passage R | pass | Set your home in Virginia to see |
| Mar 11, 2026 Senate | Passage R | pass | Set your home in Virginia to see |
| Mar 11, 2026 Senate | Reconsider R | pass | Set your home in Virginia to see |
| Mar 10, 2026 Senate | Constitutional reading dispensed (on 2nd reading) | pass | Set your home in Virginia to see |
| Mar 9, 2026 Senate | Reported from Commerce and Labor with amendments | pass | Set your home in Virginia to see |
| Feb 4, 2026 House | H VOTE: | pass | Set your home in Virginia to see |
| Feb 4, 2026 House | H VOTE: | pass | Set your home in Virginia to see |
| Jan 29, 2026 House | Reported from Labor and Commerce with substitute | pass | Set your home in Virginia to see |
| Jan 27, 2026 House | Subcommittee recommends reporting with substitute | pass | Set your home in Virginia to see |
Actions
- Apr 8, 2026
Acts of Assembly Chapter text (CHAP0383) - Apr 8, 2026
Approved by Governor-Chapter 383 (effective 7/1/2026) - Apr 6, 2026 · House
Fiscal Impact Statement from State Corporation Commission (HB316) - Mar 31, 2026
Governor's Action Deadline 11:59 p.m., April 13, 2026 - Mar 31, 2026 · House
Enrolled Bill communicated to Governor on March 31, 2026 - Mar 31, 2026 · House
Signed by Speaker - Mar 30, 2026 · Senate
Signed by President - Mar 30, 2026 · House
Bill text as passed House and Senate (HB316ER) - Mar 30, 2026 · House
Enrolled - Mar 12, 2026 · House
Senate amendments agreed to by House (97-Y 0-N 0-A) - Mar 11, 2026 · Senate
Passed Senate with amendments Block Vote (40-Y 0-N 0-A) - Mar 11, 2026 · Senate
Reconsideration of Senate passage agreed to by Senate Block Vote (40-Y 0-N 0-A) - Mar 11, 2026 · Senate
Passed Senate with amendments Block Vote (39-Y 0-N 0-A) - Mar 11, 2026 · Senate
Engrossed by Senate as amended - Mar 11, 2026 · Senate
Commerce and Labor Amendments agreed to - Mar 11, 2026 · Senate
Read third time - Mar 10, 2026 · Senate
Passed by for the day (Voice Vote) - Mar 10, 2026 · Senate
Constitutional reading dispensed (on 2nd reading) (37-Y 0-N 0-A) - Mar 10, 2026 · Senate
Rules suspended - Mar 9, 2026 · Senate
Reported from Commerce and Labor with amendments (14-Y 0-N) - Mar 9, 2026 · Senate
Senate committee offered - Feb 5, 2026 · Senate
Referred to Committee on Commerce and Labor - Feb 5, 2026 · Senate
Constitutional reading dispensed (on 1st reading) - Feb 4, 2026 · House
Passed House (98-Y 0-N 0-A) - Feb 4, 2026 · House
Reconsideration of passage agreed to by House - Feb 4, 2026 · House
Read third time and passed House (97-Y 1-N 0-A) - Feb 3, 2026 · House
Engrossed by House - committee substitute - Feb 3, 2026 · House
committee substitute agreed to - Feb 3, 2026 · House
Read second time - Feb 2, 2026 · House
Read first time - Feb 1, 2026 · House
Fiscal Impact Statement from State Corporation Commission (HB316) - Jan 29, 2026 · House
Committee substitute printed 26106247D-H1 - Jan 29, 2026 · House
Reported from Labor and Commerce with substitute (22-Y 0-N) - Jan 27, 2026 · House
Subcommittee recommends reporting with substitute (9-Y 0-N) - Jan 27, 2026 · House
House subcommittee offered - Jan 25, 2026 · House
Fiscal Impact Statement from State Corporation Commission (HB316) - Jan 19, 2026 · House
Assigned HCL sub: Subcommittee #1 - Jan 9, 2026 · House
Referred to Committee on Labor and Commerce - Jan 9, 2026 · House
Prefiled and ordered printed; Offered 01-14-2026 26103481D