Sen. A. Benton "Ben" Chafin

Directs the State Corporation Commission to exclude any debt associated with an electric utility's securitized bonds that are the obligation of non-Virginia jurisdictional customers from the capital structure and cost of capital of the utility when regulating its rates, terms, and conditions of service. The measure also authorizes a utility to request an adjustment to a tariff that is revenue neutral to the utility during a biennial filing that does not result in an overall rate change.

Provides that a defendant in a suit for partition may elect to purchase the property at fair market value. If the election to purchase fails to close and title fails to pass to the petitioner for any reason, then the court may order that the petitioner pay reasonable attorney fees and costs to the opposing party. The bill further provides that only if the election fails or no party elects to purchase the property may the court proceed with allotting the property to one or more parties.

Increases from 25 to 35 miles per hour the maximum highway speed limit wherein the governing body of any county, city, or town embraced by the Southwest Regional Recreation Authority may by ordinance authorize the operation of any off-road recreational vehicle. The bill provides that such governing body may by ordinance authorize the operation of any such vehicle for a distance of no more than five miles on any highway that has a maximum speed limit of more than 35 miles per hour.

Clarifies the criteria that must be met for a bank or other financial organization to impose charges or cease to pay interest on a dormant or inactive account that differ from those imposed on active accounts. The holder may reverse or cancel dormancy charges or retroactively credit interest upon the request of the owner if it also does so for all such property that becomes subject to certain statutory reporting requirements regarding unclaimed property. If the holder elects not to reverse or cancel dormancy charges or retroactively credit interest with respect to any such property, then it is not required to reverse or cancel dormancy charges or retroactively credit interest for property that becomes subject to the reporting requirements regarding unclaimed property. A holder may also reverse or cancel dormancy charges or retroactively credit interest with respect to any or all such property to correct a documented internal error without becoming required to reverse or cancel dormancy charges or retroactively credit interest for all such property that becomes subject to unclaimed property reporting requirements. An enactment states that the measure is declarative of existing law. This bill is identical to

Increases the minimum number of members of the board of directors of the Virginia Life, Accident and Sickness Insurance Guaranty Association from five to nine and the maximum number of such members from nine to 13. This bill is identical to

Creates an exception to the provision that authorizes shareholders of a corporation to act without a meeting by less than unanimous written consent of the shareholders. The exception states that if the articles of incorporation or bylaws of a public corporation allow the holders of 30 percent or fewer of all votes entitled to be cast to demand the calling of a special meeting of shareholders, such provision authorizing less-than-unanimous shareholder action shall not apply. A public corporation is a corporation that has shares listed on a national securities exchange or regularly traded in a market maintained by one or more members of a national or affiliated securities association. The measure does not apply if a public corporation's articles of incorporation authorized action by shareholders by less than unanimous consent as of April 1, 2018. This bill is identical to