Virginia · 2026 Regular Session · Bill
SB 479: Virginia Stock Corporation Act; changes to Act.
Enacted Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
SB 479 is a bill introduced in the Virginia Senate on January 13, 2026. According to its official title, it concerns: Virginia Stock Corporation Act; changes to Act. Primary sponsor: Dave Marsden (Democratic). Most recent recorded action (April 13, 2026): Approved by Governor-Chapter 892 (effective 7/1/2026).
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
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.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Dave Marsden | Primary sponsor | Democratic | Senate | 35 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Approved by Governor-Chapter 892 (effective 7/1/2026)
- Fiscal Impact Statement from State Corporation Commission (SB479)
- Governor's Action Deadline 11:59 p.m., April 13, 2026
- Enrolled Bill communicated to Governor on March 31, 2026
- Signed by Speaker
- Signed by President
- Bill text as passed Senate and House (SB479ER)
- Enrolled
- House amendments agreed to by Senate (40-Y 0-N 0-A)
- Passed House with amendments (99-Y 0-N 0-A)
- Engrossed by House as amended
- committee amendments agreed to
Showing 12 most recent of 38 actions. Full history