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State Corporation Commission

P Passed

P SB324
State Corporation Commission fines. Increases the maximum fine which the SCC may impose against a company for a violation of Chapter 15 of Title 56 or any rule, order, regulation or requirement of the SCC from $500 to $10,000 per day for each offense. The maximum fine that the SCC may impose for failure of any order or injunction of the SCC is increased from $1,000 to $5,000 in the case of an individual, and to $10,000 in the case of a business conducted by an entity other than an individual, per day for each offense. The maximum amount of a fine that the Commission may impose whenever no fine or other penalty is specifically imposed by statute is increased from $500 to $5,000 in the case of an individual and from $5,000 to $10,000 in the case of a business entity.
Patron - Wampler

P SB326
State Corporation Commission; delivery and filing of documents. Makes a number of housekeeping amendments to provisions relating to the delivery by the SCC to, and filing of business, organizational and other documents by, business entities. The technical amendments (i) give mailings from the SCC to limited liability companies, limited partnerships, and registered limited liability partnerships the same presumption of delivery that currently exists for mailings to corporations; (ii) clarify that limited liability company documents delivered to the SCC for filing may be executed by a person other than a member or manager; (iii) correct two erroneous citations in the Virginia Uniform Partnership Act; and (iv) allow a registered limited liability partnership to change its principal office of record by making an appropriate change on its annual report rather than by an amendment to its statement of registration.
Patron - Wampler

C Carried Over

C HB834
State Corporation Commission; members' areas of specialty. Requires the members of the State Corporation Commission to rotate areas of specialty and responsibility no less often than every two years, and provides that no member shall retain responsibility over the same subject matter area longer than two years in any six-year period.
Patron - Woodrum

C HB1491
Trade and commerce; Virginia Website Protection Act. Creates the Virginia Website Protection Act ("Act"). The Act gives legal recognition to the existing and future conventions and protocols that comprise the World Wide Web by establishing that a website is personal property and creates new civil causes of actions to redress wrongful conduct injurious to website owners. To take advantage of the protections of the Act, a website owner must register with the State Corporation Commission and domesticate his website in Virginia. The SCC is to establish and maintain the Virginia Website Registry; however, the SCC is not to enforce, interpret, or validate any provision of the agreement between the website owner and the website user nor hear any case or controversy arising out of such agreement.
Patron - Devolites

C SB767
Trade and commerce; Virginia Website Protection Act. Creates the Virginia Website Protection Act ("Act"). The Act gives legal recognition to the existing and future conventions and protocols that comprise the World Wide Web by establishing that a website is personal property and creates new civil causes of actions to redress wrongful conduct injurious to website owners. To take advantage of the protections of the Act, a website owner must register with the State Corporation Commission and domesticate his website in Virginia. The SCC is to establish and maintain the Virginia Website Registry; however, the SCC is not to enforce, interpret, or validate any provision of the agreement between the website owner and the website user nor hear any case or controversy arising out of such agreement.
Patron - Ticer


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