Virginia · 2026 Regular Session · Bill
SB 782: Corporations; limited liability decentralized autonomous organizations (LLDs).
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
SB 782 is a bill introduced in the Virginia Senate on January 22, 2026. According to its official title, it concerns: Corporations; limited liability decentralized autonomous organizations (LLDs). Primary sponsor: Saddam Salim (Democratic). Most recent recorded action (February 2, 2026): Continued to next session in Commerce and Labor (15-Y 0-N).
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.
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.
Sponsors
Sponsors by party (alphabetical): Democratic 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Saddam Salim | Primary sponsor | Democratic | Senate | 37 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Continued to next session in Commerce and Labor (15-Y 0-N)
- Senate committee amendments offered
- Fiscal Impact Statement from State Corporation Commission (SB782)
- Referred to Committee on Commerce and Labor
- Presented and ordered printed 26102324D