Bill Commons

VA HB 316

enacted

Virginia Stock Corporation Act; changes to Act.

Virginia · 2026 Regular Session · lower

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Quick answers

Did VA HB 316 pass?

Yes. VA HB 316 has been enacted into law. Latest recorded action (2026-04-08): Acts of Assembly Chapter text (CHAP0383)

What is VA HB 316 about?

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.

Who sponsors VA HB 316?

Patrick A. Hope is the primary sponsor of VA HB 316.

Description

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.

Introduced
2026-01-09
Latest action
2026-04-08 — Acts of Assembly Chapter text (CHAP0383)
Bill type
bill
Last updated
—

Sponsors

  • Patrick A. Hopeprimary

Committees

Not provided by source.

Action timeline

Newest first

  1. 2026-04-08

    Acts of Assembly Chapter text (CHAP0383)

  2. 2026-04-08

    Approved by Governor-Chapter 383 (effective 7/1/2026)

    executive-signature

  3. 2026-04-06

    Fiscal Impact Statement from State Corporation Commission (HB316)

  4. 2026-03-31

    Governor's Action Deadline 11:59 p.m., April 13, 2026

    executive-receipt

  5. 2026-03-31

    Enrolled Bill communicated to Governor on March 31, 2026

    enrolled,executive-receipt

  6. 2026-03-31

    Signed by Speaker

    passage

  7. 2026-03-30

    Signed by President

    passage

  8. 2026-03-30

    Bill text as passed House and Senate (HB316ER)

    passage

  9. 2026-03-30

    Enrolled

    enrolled

  10. 2026-03-12

    Senate amendments agreed to by House (97-Y 0-N 0-A)

    amendment-passage

  11. 2026-03-11

    Passed Senate with amendments Block Vote (40-Y 0-N 0-A)

    passage

  12. 2026-03-11

    Reconsideration of Senate passage agreed to by Senate Block Vote (40-Y 0-N 0-A)

  13. 2026-03-11

    Passed Senate with amendments Block Vote (39-Y 0-N 0-A)

    passage

  14. 2026-03-11

    Engrossed by Senate as amended

  15. 2026-03-11

    Commerce and Labor Amendments agreed to

    amendment-passage

  16. 2026-03-11

    Read third time

    reading-3

  17. 2026-03-10

    Passed by for the day (Voice Vote)

  18. 2026-03-10

    Constitutional reading dispensed (on 2nd reading) (37-Y 0-N 0-A)

  19. 2026-03-10

    Rules suspended

  20. 2026-03-09

    Reported from Commerce and Labor with amendments (14-Y 0-N)

    committee-passage

  21. 2026-03-09

    Senate committee offered

  22. 2026-02-05

    Referred to Committee on Commerce and Labor

    referral-committee

  23. 2026-02-05

    Constitutional reading dispensed (on 1st reading)

  24. 2026-02-04

    Passed House (98-Y 0-N 0-A)

    passage

  25. 2026-02-04

    Reconsideration of passage agreed to by House

  26. 2026-02-04

    Read third time and passed House (97-Y 1-N 0-A)

    passage,reading-3

  27. 2026-02-03

    Engrossed by House - committee substitute

    substitution

  28. 2026-02-03

    committee substitute agreed to

    substitution

  29. 2026-02-03

    Read second time

    reading-2

  30. 2026-02-02

    Read first time

    reading-1

  31. 2026-02-01

    Fiscal Impact Statement from State Corporation Commission (HB316)

  32. 2026-01-29

    Committee substitute printed 26106247D-H1

    substitution

  33. 2026-01-29

    Reported from Labor and Commerce with substitute (22-Y 0-N)

    committee-passage

  34. 2026-01-27

    Subcommittee recommends reporting with substitute (9-Y 0-N)

    substitution

  35. 2026-01-27

    House subcommittee offered

  36. 2026-01-25

    Fiscal Impact Statement from State Corporation Commission (HB316)

  37. 2026-01-19

    Assigned HCL sub: Subcommittee #1

    referral-committee

  38. 2026-01-09

    Referred to Committee on Labor and Commerce

    referral-committee

  39. 2026-01-09

    Prefiled and ordered printed; Offered 01-14-2026 26103481D

    filing,introduction

Versions

Documents

Votes

  • Subcommittee recommends reporting with substitute

    2026-01-27 · pass · 9-0

    Member-level votes (9)
    • Michelle Lopes Maldonado: yes
    • Richard C. "Rip" Sullivan, Jr.: yes
    • Irene Shin: yes
    • Laura Jane Cohen: yes
    • Rae Cousins: yes
    • JJ Singh: yes
    • Terry G. Kilgore: yes
    • Israel D. O'Quinn: yes
    • Jason S. Ballard: yes

  • Reported from Labor and Commerce with substitute

    2026-01-29 · pass · 22-0

    Member-level votes (22)
    • Jeion A. Ward: yes
    • Richard C. "Rip" Sullivan, Jr.: yes
    • Alfonso H. Lopez: yes
    • Kelly K. Convirs-Fowler: yes
    • Dan I. Helmer: yes
    • Michelle Lopes Maldonado: yes
    • Irene Shin: yes
    • Destiny LeVere Bolling: yes
    • Michael B. Feggans: yes
    • Nadarius E. Clark: yes
    • Rae Cousins: yes
    • Bonita G. Anthony: yes
    • Laura Jane Cohen: yes
    • JJ Singh: yes
    • May Nivar: yes
    • Terry G. Kilgore: yes
    • Israel D. O'Quinn: yes
    • Michael J. Webert: yes
    • Tony O. Wilt: yes
    • Chris S. Runion: yes
    • Jason S. Ballard: yes
    • Wren M. Williams: yes

  • H VOTE:

    2026-02-04 · pass · 97-1

    Member-level votes (100)
    • Jessica L. Anderson: yes
    • Bonita G. Anthony: yes
    • Alex Q. Askew: yes
    • Terry L. Austin: yes
    • Jason S. Ballard: yes
    • Elizabeth B. Bennett-Parker: yes
    • Robert S. Bloxom, Jr.: yes
    • Gretchen M. Bulova: yes
    • Katrina Callsen: yes
    • Karen R. "Kacey" Carnegie: yes
    • Betsy B. Carr: yes
    • Stacey Annie Carroll: yes
    • Mike A. Cherry: yes
    • Nadarius E. Clark: yes
    • Laura Jane Cohen: yes
    • Joshua G. Cole: yes
    • Nicole Cole: yes
    • Kelly K. Convirs-Fowler: not voting
    • Mitchell Cornett: yes
    • Rae Cousins: yes
    • Will Davis: yes
    • Karrie K. Delaney: yes
    • Lindsey Dougherty: yes
    • Mark C. Downey: yes
    • Michael B. Feggans: yes
    • Hyland F. "Buddy" Fowler, Jr.: yes
    • Lily V. Franklin: yes
    • Margaret A. Franklin: yes
    • Debra D. Gardner: yes
    • Thomas A. Garrett, Jr.: yes
    • Jackie H. Glass: yes
    • Timothy P. Griffin: yes
    • Elizabeth R. Guzman: yes
    • Karen Hamilton: yes
    • C.E. Cliff Hayes, Jr.: yes
    • Dan I. Helmer: yes
    • Rozia A. Henson, Jr.: yes
    • Phil M. Hernandez: yes
    • Charniele L. Herring: yes
    • M. Keith Hodges: yes
    • Patrick A. Hope: yes
    • Hillary Pugh Kent: yes
    • Karen Keys-Gamarra: yes
    • Terry G. Kilgore: yes
    • Barry D. Knight: not voting
    • Paul E. Krizek: yes
    • Amy J. Laufer: yes
    • James A. "Jay" Leftwich: yes
    • Destiny LeVere Bolling: yes
    • Alfonso H. Lopez: yes
    • Michelle Lopes Maldonado: yes
    • Marty Martinez: yes
    • John Chilton McAuliff: yes
    • Adele Y. McClure: yes
    • Garrett McGuire: yes
    • Ellen H. McLaughlin: yes
    • Joseph P. McNamara: yes
    • Delores L. McQuinn: yes
    • Leslie Chambers Mehta: yes
    • James W. Morefield: yes
    • May Nivar: yes
    • Delores Oates: yes
    • Israel D. O'Quinn: yes
    • Justin Pence: yes
    • Eric Phillips: yes
    • Kimberly Pope Adams: yes
    • Marcia S. "Cia" Price: yes
    • Sam Rasoul: yes
    • Atoosa R. Reaser: yes
    • David A. Reid: yes
    • Chris S. Runion: yes
    • Charlie Schmidt: yes
    • Don Scott: yes
    • Phillip A. Scott: yes
    • Holly M. Seibold: yes
    • Briana D. Sewell: yes
    • Irene Shin: yes
    • Marcus B. Simon: yes
    • Shelly A. Simonds: yes
    • JJ Singh: yes
    • Richard C. "Rip" Sullivan, Jr.: yes
    • Anne Ferrell Tata: yes
    • Joshua E. Thomas: yes
    • Virgil Thornton: yes
    • Luke E. Torian: yes
    • Kathy K.L. Tran: yes
    • H. Otto Wachsmann, Jr.: yes
    • Wendell S. Walker: yes
    • Jeion A. Ward: yes
    • R. Lee Ware: yes
    • Vivian E. Watts: yes
    • Michael J. Webert: yes
    • Madison Whittle: yes
    • Bill Wiley: yes
    • Rodney T. Willett: yes
    • Wren M. Williams: yes
    • Tony O. Wilt: yes
    • Thomas C. Wright, Jr.: yes
    • Scott A. Wyatt: yes
    • Eric R. Zehr: no

  • Reported from Commerce and Labor with amendments

    2026-03-09 · pass · 14-0

    Member-level votes (15)
    • R. Creigh Deeds: yes
    • Mark D. Obenshain: yes
    • L. Louise Lucas: yes
    • David W. Marsden: yes
    • Scott A. Surovell: yes
    • William M. Stanley, Jr.: not voting
    • Ryan T. McDougle: yes
    • Mamie E. Locke: yes
    • Bill DeSteph: yes
    • Jeremy S. McPike: yes
    • Mark J. Peake: yes
    • Aaron R. Rouse: yes
    • Lamont Bagby: yes
    • Richard H. Stuart: yes
    • Jennifer B. Boysko: yes

  • Constitutional reading dispensed (on 2nd reading)

    2026-03-10 · pass · 37-0

    Member-level votes (40)
    • Lashrecse D. Aird: yes
    • Lamont Bagby: yes
    • Elizabeth B. Bennett-Parker: yes
    • Jennifer B. Boysko: yes
    • Jennifer D. Carroll Foy: yes
    • Luther Cifers, III: yes
    • Christie New Craig: yes
    • R. Creigh Deeds: yes
    • Bill DeSteph: yes
    • J.D. "Danny" Diggs: yes
    • Tara A. Durant: yes
    • Barbara A. Favola: yes
    • Timmy French: not voting
    • T. Travis Hackworth: yes
    • Christopher T. Head: yes
    • Michael J. Jones: yes
    • Emily M. Jordan: not voting
    • Mamie E. Locke: yes
    • L. Louise Lucas: yes
    • David W. Marsden: not voting
    • Ryan T. McDougle: yes
    • Jeremy S. McPike: yes
    • Tammy Brankley Mulchi: yes
    • Mark D. Obenshain: yes
    • Mark J. Peake: yes
    • Stella G. Pekarsky: yes
    • Russet Perry: yes
    • Todd E. Pillion: yes
    • Bryce E. Reeves: yes
    • Danica A. Roem: yes
    • Aaron R. Rouse: yes
    • Saddam Azlan Salim: yes
    • Kannan Srinivasan: yes
    • William M. Stanley, Jr.: yes
    • Richard H. Stuart: yes
    • Glen H. Sturtevant, Jr.: yes
    • David R. Suetterlein: yes
    • Scott A. Surovell: yes
    • Schuyler T. VanValkenburg: yes
    • Angelia Williams Graves: yes

  • Passage R

    2026-03-11 · pass · 39-0

    Member-level votes (40)
    • Lashrecse D. Aird: yes
    • Lamont Bagby: yes
    • Elizabeth B. Bennett-Parker: yes
    • Jennifer B. Boysko: yes
    • Jennifer D. Carroll Foy: yes
    • Luther Cifers, III: yes
    • Christie New Craig: yes
    • R. Creigh Deeds: yes
    • Bill DeSteph: yes
    • J.D. "Danny" Diggs: yes
    • Tara A. Durant: yes
    • Barbara A. Favola: yes
    • Timmy French: yes
    • T. Travis Hackworth: yes
    • Christopher T. Head: yes
    • Michael J. Jones: yes
    • Emily M. Jordan: yes
    • Mamie E. Locke: yes
    • L. Louise Lucas: yes
    • David W. Marsden: yes
    • Ryan T. McDougle: yes
    • Jeremy S. McPike: yes
    • Tammy Brankley Mulchi: not voting
    • Mark D. Obenshain: yes
    • Mark J. Peake: yes
    • Stella G. Pekarsky: yes
    • Russet Perry: yes
    • Todd E. Pillion: yes
    • Bryce E. Reeves: yes
    • Danica A. Roem: yes
    • Aaron R. Rouse: yes
    • Saddam Azlan Salim: yes
    • Kannan Srinivasan: yes
    • William M. Stanley, Jr.: yes
    • Richard H. Stuart: yes
    • Glen H. Sturtevant, Jr.: yes
    • David R. Suetterlein: yes
    • Scott A. Surovell: yes
    • Schuyler T. VanValkenburg: yes
    • Angelia Williams Graves: yes

  • Reconsider R

    2026-03-11 · pass · 40-0

    Member-level votes (40)
    • Lashrecse D. Aird: yes
    • Lamont Bagby: yes
    • Elizabeth B. Bennett-Parker: yes
    • Jennifer B. Boysko: yes
    • Jennifer D. Carroll Foy: yes
    • Luther Cifers, III: yes
    • Christie New Craig: yes
    • R. Creigh Deeds: yes
    • Bill DeSteph: yes
    • J.D. "Danny" Diggs: yes
    • Tara A. Durant: yes
    • Barbara A. Favola: yes
    • Timmy French: yes
    • T. Travis Hackworth: yes
    • Christopher T. Head: yes
    • Michael J. Jones: yes
    • Emily M. Jordan: yes
    • Mamie E. Locke: yes
    • L. Louise Lucas: yes
    • David W. Marsden: yes
    • Ryan T. McDougle: yes
    • Jeremy S. McPike: yes
    • Tammy Brankley Mulchi: yes
    • Mark D. Obenshain: yes
    • Mark J. Peake: yes
    • Stella G. Pekarsky: yes
    • Russet Perry: yes
    • Todd E. Pillion: yes
    • Bryce E. Reeves: yes
    • Danica A. Roem: yes
    • Aaron R. Rouse: yes
    • Saddam Azlan Salim: yes
    • Kannan Srinivasan: yes
    • William M. Stanley, Jr.: yes
    • Richard H. Stuart: yes
    • Glen H. Sturtevant, Jr.: yes
    • David R. Suetterlein: yes
    • Scott A. Surovell: yes
    • Schuyler T. VanValkenburg: yes
    • Angelia Williams Graves: yes

  • H VOTE:

    2026-03-12 · pass · 97-0

    Member-level votes (99)
    • Jessica L. Anderson: yes
    • Bonita G. Anthony: yes
    • Alex Q. Askew: yes
    • Terry L. Austin: yes
    • Jason S. Ballard: yes
    • Robert S. Bloxom, Jr.: yes
    • Gretchen M. Bulova: yes
    • Katrina Callsen: yes
    • Karen R. "Kacey" Carnegie: yes
    • Betsy B. Carr: yes
    • Stacey Annie Carroll: yes
    • Mike A. Cherry: yes
    • Nadarius E. Clark: not voting
    • Laura Jane Cohen: yes
    • Joshua G. Cole: yes
    • Nicole Cole: yes
    • Kelly K. Convirs-Fowler: yes
    • Mitchell Cornett: yes
    • Rae Cousins: yes
    • Will Davis: yes
    • Karrie K. Delaney: yes
    • Lindsey Dougherty: yes
    • Mark C. Downey: yes
    • Michael B. Feggans: yes
    • Hyland F. "Buddy" Fowler, Jr.: yes
    • Lily V. Franklin: yes
    • Margaret A. Franklin: yes
    • Debra D. Gardner: yes
    • Thomas A. Garrett, Jr.: yes
    • Jackie H. Glass: yes
    • Timothy P. Griffin: yes
    • Elizabeth R. Guzman: yes
    • Karen Hamilton: not voting
    • C.E. Cliff Hayes, Jr.: yes
    • Dan I. Helmer: yes
    • Rozia A. Henson, Jr.: yes
    • Phil M. Hernandez: yes
    • Charniele L. Herring: yes
    • M. Keith Hodges: yes
    • Patrick A. Hope: yes
    • Hillary Pugh Kent: yes
    • Karen Keys-Gamarra: yes
    • Terry G. Kilgore: yes
    • Paul E. Krizek: yes
    • Amy J. Laufer: yes
    • James A. "Jay" Leftwich: yes
    • Destiny LeVere Bolling: yes
    • Alfonso H. Lopez: yes
    • Michelle Lopes Maldonado: yes
    • Marty Martinez: yes
    • John Chilton McAuliff: yes
    • Adele Y. McClure: yes
    • Garrett McGuire: yes
    • Ellen H. McLaughlin: yes
    • Joseph P. McNamara: yes
    • Kirk McPike: yes
    • Delores L. McQuinn: yes
    • Leslie Chambers Mehta: yes
    • James W. Morefield: yes
    • May Nivar: yes
    • Delores Oates: yes
    • Israel D. O'Quinn: yes
    • Justin Pence: yes
    • Eric Phillips: yes
    • Kimberly Pope Adams: yes
    • Marcia S. "Cia" Price: yes
    • Sam Rasoul: yes
    • Atoosa R. Reaser: yes
    • David A. Reid: yes
    • Chris S. Runion: yes
    • Charlie Schmidt: yes
    • Don Scott: yes
    • Phillip A. Scott: yes
    • Holly M. Seibold: yes
    • Briana D. Sewell: yes
    • Irene Shin: yes
    • Marcus B. Simon: yes
    • Shelly A. Simonds: yes
    • JJ Singh: yes
    • Richard C. "Rip" Sullivan, Jr.: yes
    • Anne Ferrell Tata: yes
    • Joshua E. Thomas: yes
    • Virgil Thornton: yes
    • Luke E. Torian: yes
    • Kathy K.L. Tran: yes
    • H. Otto Wachsmann, Jr.: yes
    • Wendell S. Walker: yes
    • Jeion A. Ward: yes
    • R. Lee Ware: yes
    • Vivian E. Watts: yes
    • Michael J. Webert: yes
    • Madison Whittle: yes
    • Bill Wiley: yes
    • Rodney T. Willett: yes
    • Wren M. Williams: yes
    • Tony O. Wilt: yes
    • Thomas C. Wright, Jr.: yes
    • Scott A. Wyatt: yes
    • Eric R. Zehr: yes

Related bills

No related bills recorded for this bill.

Official source

https://lis.virginia.gov/bill-details/20261/HB316

Attribution

Data from openstates_bulk_csv, retrieved 2026-07-24T05:35:59.552682Z

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