VA SB 479
enactedVirginia Stock Corporation Act; changes to Act.
Virginia · 2026 Regular Session · upper
Quick answers
Did VA SB 479 pass?
Yes. VA SB 479 has been enacted into law as of 2026-04-13. Latest recorded action (2026-04-13): Approved by Governor-Chapter 892 (effective 7/1/2026)
What is VA SB 479 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 HB 316.
Who sponsors VA SB 479?
David W. Marsden is the primary sponsor of VA SB 479.
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 HB 316.
- Introduced
- 2026-01-13
- Latest action
- 2026-04-13 — Approved by Governor-Chapter 892 (effective 7/1/2026)
- Bill type
- bill
- Last updated
- —
Sponsors
- David W. Marsdenprimary
Committees
Not provided by source.
Action timeline
2026-01-13
Prefiled and ordered printed; Offered 01-14-2026 26103811D
filing,introduction
2026-01-13
Referred to Committee on Commerce and Labor
referral-committee
2026-01-25
Fiscal Impact Statement from State Corporation Commission (SB479)
2026-01-26
Senate committee offered
2026-01-26
Senate committee offered
2026-01-26
Reported from Commerce and Labor with substitute (15-Y 0-N)
committee-passage
2026-01-27
Committee substitute printed 26106187D-S1
substitution
2026-01-28
Rules suspended
2026-01-28
Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)
2026-01-28
Passed by for the day Block Vote (Voice Vote)
2026-01-28
Passed by for the day
2026-01-29
Read second time
reading-2
2026-01-29
Commerce and Labor Substitute agreed to
2026-01-29
Engrossed by Senate (Voice Vote)
2026-01-29
Engrossed by Senate - committee substitute
substitution
2026-01-30
Read third time and passed Senate (38-Y 0-N 0-A)
passage,reading-3
2026-02-04
Placed on Calendar
2026-02-04
Read first time
reading-1
2026-02-04
Referred to Committee on Labor and Commerce
referral-committee
2026-02-25
Assigned HCL sub: Subcommittee #1
referral-committee
2026-02-26
Fiscal Impact Statement from State Corporation Commission (SB479)
2026-03-03
House subcommittee offered
2026-03-03
Subcommittee recommends reporting with amendment(s) (9-Y 0-N)
2026-03-05
Reported from Labor and Commerce with amendment(s) (21-Y 0-N)
committee-passage
2026-03-09
Read second time
reading-2
2026-03-10
Read third time
reading-3
2026-03-10
committee amendments agreed to
amendment-passage
2026-03-10
Engrossed by House as amended
2026-03-10
Passed House with amendments (99-Y 0-N 0-A)
passage
2026-03-11
House amendments agreed to by Senate (40-Y 0-N 0-A)
amendment-passage
2026-03-30
Enrolled
enrolled
2026-03-30
Bill text as passed Senate and House (SB479ER)
passage
2026-03-30
Signed by President
passage
2026-03-31
Signed by Speaker
passage
2026-03-31
Enrolled Bill communicated to Governor on March 31, 2026
enrolled,executive-receipt
2026-03-31
Governor's Action Deadline 11:59 p.m., April 13, 2026
executive-receipt
2026-04-06
Fiscal Impact Statement from State Corporation Commission (SB479)
2026-04-13
Approved by Governor-Chapter 892 (effective 7/1/2026)
executive-signature
Versions
Documents
Votes
Reported from Commerce and Labor with substitute
2026-01-26 · pass · 15-0
Member-level votes (15)
- R. Creigh Deeds: yes
- Mark D. Obenshain: yes
- L. Louise Lucas: yes
- David W. Marsden: yes
- Adam P. Ebbin: yes
- Scott A. Surovell: yes
- William M. Stanley, Jr.: yes
- Ryan T. McDougle: yes
- Mamie E. Locke: yes
- Bryce E. Reeves: yes
- Bill DeSteph: yes
- Jeremy S. McPike: yes
- Mark J. Peake: yes
- Aaron R. Rouse: yes
- Lamont Bagby: yes
Constitutional reading dispensed R
2026-01-28 · pass · 40-0
Member-level votes (40)
- Lashrecse D. Aird: yes
- Lamont Bagby: 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
- Adam P. Ebbin: 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
Passage R
2026-01-30 · pass · 38-0
Member-level votes (40)
- Lashrecse D. Aird: yes
- Lamont Bagby: 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
- Adam P. Ebbin: 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: not voting
- Glen H. Sturtevant, Jr.: yes
- David R. Suetterlein: yes
- Scott A. Surovell: yes
- Schuyler T. VanValkenburg: yes
- Angelia Williams Graves: yes
Subcommittee recommends reporting with amendment(s)
2026-03-03 · 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 amendment(s)
2026-03-05 · pass · 21-0
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: not voting
- 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:
2026-03-10 · pass · 99-0
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: yes
- 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: 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
- 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
Concur House Amendments 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
Related bills
No related bills recorded for this bill.
Official source
Attribution
Data from openstates_bulk_csv, retrieved 2026-07-24T05:35:59.552682Z
Inspect retained evidence for changes recorded after evidence tracking began:
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