republic-os/legislation/us/states/va/2018/hb-433.md

type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags

type	title	description	jurisdiction	legislature	session	identifier	citation	classification	subjects	status	primary_sponsors	version_count	action_count	vote_count	first_action	last_action	source	source_identifier	source_url	source_hash	vintage	source_snapshot	retrieved_at	confidence	tags
Bill	Banks and credit unions; closure, appointment of receiver.	Enables the State Corporation Commission (Commission) to close a state-chartered bank or credit union if its net worth ratio falls to less than two percent, if it is approaching insolvency and has no reasonable prospect for rehabilitation, or if closure is necessary for the protection of the public interest. The measure resolves an existing ambiguity regarding the appropriate court to which the Commission is required to apply for an order to have the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA) appointed as receiver for a state-chartered bank or credit union that has been closed by the Commission. The measure requires the court to appoint the FDIC or NCUA as receiver if the court finds that the FDIC or NCUA is willing to accept the appointment.	us/states/va	Virginia General Assembly	2018	HB 433	Virginia HB 433 (2018)	bill	Financial Institutions and Services	enacted	Daniel W. Marshall, III	2	14	5	2018-01-06	2018-03-09	openstates	ocd-bill/a741f7a0-87b9-4caf-bf23-260ce5a027f4	http://lis.virginia.gov/cgi-bin/legp604.exe?181+sum+HB433	34c2a2a6620dc3c6b8c74056900255f3508b08908a69b53bcd8cc1b0f254a6b0	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-va

Virginia HB 433 (2018) — Banks and credit unions; closure, appointment of receiver.

Enables the State Corporation Commission (Commission) to close a state-chartered bank or credit union if its net worth ratio falls to less than two percent, if it is approaching insolvency and has no reasonable prospect for rehabilitation, or if closure is necessary for the protection of the public interest. The measure resolves an existing ambiguity regarding the appropriate court to which the Commission is required to apply for an order to have the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA) appointed as receiver for a state-chartered bank or credit union that has been closed by the Commission. The measure requires the court to appoint the FDIC or NCUA as receiver if the court finds that the FDIC or NCUA is willing to accept the appointment.

Version chain

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

1. House: Bill text as passed House and Senate (HB433ER) (committee substitute) — source
2. House: Prefiled and ordered printed; offered 01/10/18 18104134D (committee substitute) — source

Votes

• Reported from Commerce and Labor — 14–0 (pass) · legislature
• Passed Senate — 40–0 (pass) · legislature
• Constitutional reading dispensed — 40–0 (pass) · legislature
• Reported from Commerce and Labor — 22–0 (pass) · legislature
• Read third time and passed House BLOCK VOTE — 99–0 (pass) · legislature

Sponsors

• Daniel W. Marshall, III — primary (person)

Timeline

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

• 2018-01-06 Prefiled and ordered printed; offered 01/10/18 18104134D introduction
• 2018-01-06 Referred to Committee on Commerce and Labor referral-committee
• 2018-01-18 Read first time reading-1
• 2018-01-19 Read second time and engrossed reading-2
• 2018-01-22 Read third time and passed House BLOCK VOTE (99-Y 0-N) passage, reading-3
• 2018-01-23 Constitutional reading dispensed
• 2018-01-23 Referred to Committee on Commerce and Labor referral-committee
• 2018-02-22 Read third time reading-3
• 2018-02-26 Enrolled
• 2018-02-26 Signed by Speaker
• 2018-02-28 Signed by President
• 2018-03-02 Enrolled Bill communicated to Governor on March 2, 2018
• 2018-03-02 Governor's Action Deadline Midnight, March 9, 2018
• 2018-03-09 Approved by Governor-Chapter 257 (effective 7/1/18) executive-signature

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/a741f7a0-87b9-4caf-bf23-260ce5a027f4. Confidence: reported (aggregated from official Virginia legislature records).