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SB 246

Virginia Nonstock Corporation Act; numerous revisions to Act, delayed effective date.

2026 Regular Session Introduced by Scott Surovell

SB 246 comprehensively revises Virginia's nonprofit corporation law with delayed implementation to give organizations time to comply with amended governance and operational requirements.

Fiscal Impact Statement from State Corporation Commission (SB246)
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Bill Summary · SB 246

Legislative bill overview

SB 246 proposes comprehensive revisions to Virginia's Nonstock Corporation Act, which governs the formation and operation of nonprofit organizations. The bill includes numerous technical and substantive amendments to this governing statute, with an intentionally delayed effective date to allow organizations time to adapt to the changes.

Why is this important

Nonprofits represent a significant portion of Virginia's economy and social infrastructure, affecting hundreds of thousands of organizations and millions of residents who rely on their services. Updates to the governing statute can impact how nonprofits operate daily—from governance requirements to administrative procedures—making this relevant to educational institutions, charities, religious organizations, and community groups throughout the state.

Potential points of contention

  • Scope of changes unclear: Without seeing the specific amendments, stakeholders cannot yet assess whether changes burden small nonprofits disproportionately or create compliance costs
  • Delayed effective date negotiations: Organizations may debate whether the delay period is adequate for implementation, particularly for smaller nonprofits with limited administrative capacity
  • Governance vs. operational balance: Revisions may shift the balance between regulatory oversight and nonprofit autonomy, affecting organizational independence and decision-making

Compiled from official sources — confirm details with the bill’s official record.

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