---
type: "Bill"
title: "Securities Act; exemption for certain nonissuer distributions."
description: "Securities Act; exemption for nonissuer distributions.Exempts certain nonissuer distributions from the registration provisionsof the Securities Act."
jurisdiction: "us/states/va"
legislature: "Virginia General Assembly"
session: "2020"
identifier: "HB 1457"
citation: "Virginia HB 1457 (2020)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Israel D. O'Quinn"]
version_count: 3
action_count: 21
vote_count: 5
first_action: "2020-01-08"
last_action: "2020-03-10"
source: "openstates"
source_identifier: "ocd-bill/e33004bd-1f74-490d-9c02-f2d70f94115c"
source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB1457"
source_hash: "06d4d655dd0c502d775b3ff49afea5dc80196d7e8bd5f680501b3c1abb39da24"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-va"]
---

# Virginia HB 1457 (2020) — Securities Act; exemption for certain nonissuer distributions.

Securities Act; exemption for nonissuer distributions.Exempts certain nonissuer distributions from the registration provisionsof the Securities Act.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Acts of Assembly Chapter text (CHAP0256)** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+CHAP0256)
2. **Bill text as passed House and Senate (HB1457ER)** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB1457ER)
3. **Impact statement from SCC (HB1457)** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB1457)

## Votes

- Passed Senate (40-Y 0-N) — **40–0** (pass) · upper
- Constitutional reading dispensed (39-Y 0-N) — **39–0** (pass) · upper
- Reported from Commerce and Labor (15-Y 0-N) — **15–0** (pass) · upper
- Reported from Labor and Commerce (17-Y 0-N) — **17–0** (pass) · lower
- VOTE: Block Vote Passage (99-Y 0-N) — **98–0** (pass) · lower

## Sponsors

- Israel D. O'Quinn — primary (person)
- Jeffrey M. Bourne — cosponsor (person)
- Jerrauld C. "Jay" Jones — cosponsor (person)
- Lamont Bagby — cosponsor (person)
- Mark L. Keam — cosponsor (person)
- Michael J. Webert — cosponsor (person)
- Nick Rush — cosponsor (person)
- R. Lee Ware — cosponsor (person)
- Terry G. Kilgore — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2020-01-08** Prefiled and ordered printed; offered 01/08/20 20100432D `introduction`
- **2020-01-08** Referred to Committee on Labor and Commerce `referral-committee`
- **2020-01-13** Impact statement from SCC (HB1457)
- **2020-01-28** Reported from Labor and Commerce (17-Y 0-N) `committee-passage`
- **2020-01-30** Read first time `reading-1`
- **2020-01-31** Read second time and engrossed `reading-2`
- **2020-02-03** Read third time and passed House BLOCK VOTE (99-Y 0-N) `passage, reading-3`
- **2020-02-03** VOTE: Block Vote Passage (99-Y 0-N)
- **2020-02-04** Constitutional reading dispensed
- **2020-02-04** Referred to Committee on Commerce and Labor `referral-committee`
- **2020-02-17** Reported from Commerce and Labor (15-Y 0-N) `committee-passage`
- **2020-02-19** Constitutional reading dispensed (39-Y 0-N)
- **2020-02-20** Read third time `reading-3`
- **2020-02-20** Passed Senate (40-Y 0-N) `passage`
- **2020-02-25** Enrolled
- **2020-02-25** Impact statement from SCC (HB1457ER)
- **2020-02-25** Signed by Speaker
- **2020-02-26** Signed by President
- **2020-03-03** Enrolled Bill communicated to Governor on March 3, 2020
- **2020-03-03** Governor's Action Deadline 11:59 p.m., March 10, 2020
- **2020-03-10** Approved by Governor-Chapter 256 (effective 7/1/20) `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/e33004bd-1f74-490d-9c02-f2d70f94115c`. Confidence: reported (aggregated from official Virginia legislature records).