Removes the ability of a bank's shareholders to fix the number that constitutes a quorum for a meeting of the bank's board of directors at not less than five. In its place, the measure authorizes a bank's shareholders to adopt a bylaw setting as a quorum a number that is not less than a majority of the bank's directors. This bill is identical to
Provides that it is the legislative intent that public school buildings and facilities be designed, constructed, maintained, and operated to generate more electricity than consumed, and allows local school boards to enter into leases with private developers to achieve that goal. The bill also provides that private developers that contract with local school boards to modernize public school buildings and facilities may receive financing from the Virginia Small Business Financing Authority.
Requires every locality with a population greater than 25,000 and each school division with greater than 5,000 students to post quarterly on the public government website of such locality or school division a register of all funds expended, showing vendor name, date of payment, amount, and a description of the type of expense, including credit card purchases with the same information. The bill allows any locality or school division to exclude from such posting any information that is exempt from mandatory disclosure under the Virginia Freedom of Information Act, any personal identifying information related to a court-ordered payment, any information related to undercover law-enforcement officers, and any information related to a settlement or contract that contains a confidentiality clause. The bill has a delayed effective date of July 1, 2020.
