VA SB 782
Status unknownCorporations; limited liability decentralized autonomous organizations (LLDs).
Virginia · 2026 Regular Session · upper
Quick answers
Did VA SB 782 pass?
The current status of VA SB 782 is not known from the official record. Latest recorded action (2026-02-02): Continued to next session in Commerce and Labor (15-Y 0-N)
What is VA SB 782 about?
Corporations; limited liability decentralized autonomous organizations (LLDs). Creates the Limited Liability Decentralized Autonomous Organization (LLD) Act, which establishes requirements for an LLD, defined as a distinct legal entity that operates through decentralized governance using blockchain technology and smart contracts that execute decentralized decision-making mechanisms. The bill permits the formation of an LLD by filing articles of formation with the State Corporation Commission (the Commission), and, if certain requirements are met, the Commission may issue a certificate of formation. The bill includes requirements for amending an LLD's articles of formation and also includes requirements for LLD bylaws, operating agreements, underlying smart contracts, and participant interests and management of the LLD. Under the bill, an LLD and its participants have limited liability for debts, obligations, and liabilities of the LLD. The bill also includes provisions related to recordkeeping, transferring interests, withdrawal of participants, and dissolution of the LLD. The bill directs the Commission to adopt emergency regulations to implement certain provisions of the bill. Except for the emergency rulemaking, the provisions of the bill have a delayed effective date of January 1, 2027.
Who sponsors VA SB 782?
Saddam Azlan Salim is the primary sponsor of VA SB 782.
Description
Corporations; limited liability decentralized autonomous organizations (LLDs). Creates the Limited Liability Decentralized Autonomous Organization (LLD) Act, which establishes requirements for an LLD, defined as a distinct legal entity that operates through decentralized governance using blockchain technology and smart contracts that execute decentralized decision-making mechanisms. The bill permits the formation of an LLD by filing articles of formation with the State Corporation Commission (the Commission), and, if certain requirements are met, the Commission may issue a certificate of formation. The bill includes requirements for amending an LLD's articles of formation and also includes requirements for LLD bylaws, operating agreements, underlying smart contracts, and participant interests and management of the LLD. Under the bill, an LLD and its participants have limited liability for debts, obligations, and liabilities of the LLD. The bill also includes provisions related to recordkeeping, transferring interests, withdrawal of participants, and dissolution of the LLD. The bill directs the Commission to adopt emergency regulations to implement certain provisions of the bill. Except for the emergency rulemaking, the provisions of the bill have a delayed effective date of January 1, 2027.
- Introduced
- 2026-01-22
- Latest action
- 2026-02-02 — Continued to next session in Commerce and Labor (15-Y 0-N)
- Bill type
- bill
- Last updated
- —
Sponsors
- Saddam Azlan Salimprimary
Committees
Not provided by source.
Action timeline
2026-01-22
Presented and ordered printed 26102324D
introduction
2026-01-22
Referred to Committee on Commerce and Labor
referral-committee
2026-02-01
Fiscal Impact Statement from State Corporation Commission (SB782)
2026-02-02
Senate committee amendments offered
2026-02-02
Continued to next session in Commerce and Labor (15-Y 0-N)
Versions
Documents
Votes
Continued to next session in Commerce and Labor
2026-02-02 · 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
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:
Use this data
Every field on this page is available from the free public API — no key or licence required. Fetch this bill as JSON: GET /api/v1/bills?jurisdiction=VA&identifier=SB 782. See the API docs or the MCP server for AI assistants.
Known limitations
- Sponsor party and chamber affiliation are not yet captured by this API.
- Committee referrals are not yet captured.
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