Virginia Senate Bill 359 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 5 2014 - 100% progression
Action: 2014-03-05 - Governor: Acts of Assembly Chapter text (CHAP0156)
Text: Latest bill text (Chaptered) [HTML]

Banks; director ownership of shares. Provides that a bank director shall be deemed to be the sole owner of, and have in his personal possession or control, shares of stock that are (i) held through a brokerage account or similar arrangement, provided that the director retains sole beneficial ownership and sole legal control over the shares; (ii) held jointly or as a tenant in common, but only to the extent of the book value of the shares divided by the number of joint or tenant in common holders; (iii) deposited by the director in a living trust, or inter vivos trust, as to which the director is the sole trustee and retains an absolute power of revocation; or (iv) held through a profit-sharing plan, individual retirement account, retirement plan, or similar arrangement, provided that the director retains sole beneficial ownership and sole legal control over the shares. Such shares of stock in the bank of which the individual is a director may be used to determine if the director meets the requirement that he own and have in his personal possession or control shares of such stock with a book value of not less than $5,000. The measure also corrects a reference to the par value, rather than the book value, of such stock.

Banks; bank director's ownership of shares.

Sen. Jeffrey McWaters [R]

2014-02-18 - House - House: VOTE: PASSAGE (94-Y 0-N 2-A) (Y: 96 N: 0 NV: 3 Abs: 2) [PASS]
2014-02-13 - House - House: Reported from Commerce and Labor (20-Y 0-N) (Y: 21 N: 0 NV: 1 Abs: 0) [PASS]
2014-01-17 - Senate - Senate: Read third time and passed Senate (35-Y 0-N 3-A) (Y: 35 N: 0 NV: 0 Abs: 3) [PASS]
2014-01-15 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 0 Abs: 0) [PASS]
2014-01-13 - Senate - Senate: Reported from Commerce and Labor (13-Y 0-N 1-A) (Y: 13 N: 0 NV: 0 Abs: 1) [PASS]

Date	Chamber	Action
2014-03-05		Governor: Acts of Assembly Chapter text (CHAP0156)
2014-03-05		Governor: Approved by Governor-Chapter 156 (effective 7/1/14)
2014-02-22	Senate	Signed by President
2014-02-20	House	Signed by Speaker
2014-02-20	Senate	Bill text as passed Senate and House (SB359ER)
2014-02-20	Senate	Enrolled
2014-02-18	House	VOTE: PASSAGE (94-Y 0-N 2-A)
2014-02-18	House	Passed House (94-Y 0-N 2-A)
2014-02-18	House	Read third time
2014-02-17	House	Read second time
2014-02-13	House	Reported from Commerce and Labor (20-Y 0-N)
2014-01-23	House	Referred to Committee on Commerce and Labor
2014-01-23	House	Read first time
2014-01-23	House	Placed on Calendar
2014-01-17	Senate	Read third time and passed Senate (35-Y 0-N 3-A)
2014-01-16	Senate	Read second time and engrossed
2014-01-15	Senate	Constitutional reading dispensed (38-Y 0-N)
2014-01-13	Senate	Reported from Commerce and Labor (13-Y 0-N 1-A)
2014-01-07	Senate	Referred to Committee on Commerce and Labor
2014-01-07	Senate	Prefiled and ordered printed; offered 01/08/14 14103225D

HB1044 (Same As) 2014-03-07 - Governor: Acts of Assembly Chapter text (CHAP0219)

Chapter	Article	Section	Citation Type	Statute Text
6	2	862	(n/a)	See Bill Text
6	2	863	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?141+sum+SB359
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+SB359+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+SB359ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+CHAP0156+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+S02V0007+SB0359
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+SV0050SB0359+SB0359
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+SV0071SB0359+SB0359
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+H14V0115+SB0359
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+HV0759+SB0359