Virginia House Bill 261 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 11 2010 - 25% progression, died in chamber
Action: 2010-01-28 - House: Continued to 2011 in Commerce and Labor by voice vote
Text: Latest bill text (Prefiled) [HTML]

Low-profit limited liability companies. Provides for the designation of a type of limited liability company as low-profit limited liability company. A low-profit limited liability company is a limited liability company that significantly furthers the accomplishment of a charitable or educational purpose, would not have been formed but for the entity's relationship to the accomplishment of charitable or educational purposes, does not have as a significant purpose the production of income or the appreciation of property, and does not have a political or legislative purpose.

Low-profit limited liability companies; definition.

Sen. Jennifer McClellan [D]

Date	Chamber	Action
2010-01-28		House: Continued to 2011 in Commerce and Labor by voice vote
2010-01-11		House: Referred to Committee on Commerce and Labor
2010-01-11		House: Prefiled and ordered printed; offered 01/13/10 10101558D

Chapter	Article	Section	Citation Type	Statute Text
13	1	1002	(n/a)	See Bill Text
13	1	1008	(n/a)	See Bill Text
13	1	1011	(n/a)	See Bill Text
13	1	1012	(n/a)	See Bill Text
13	1	1050.3	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?101+sum+HB261
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?101+ful+HB261+hil