# Virginia SB734: Financial institutions; officers and directors. Virginia SB734, Financial institutions; officers and directors., is a 2026 Regular Session Senate bill sponsored by T. Travis Hackworth (Republican); status signed, last action 2026-04-13 (Acts of Assembly Chapter text (CHAP0903)); PRIA reads it as touching household money (as of 2026-10-12). - Canonical: https://policyrisk.com/state-bill/VA-SB734-2026 - As of: 2026-10-12 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: Virginia SB734 - State: Virginia - Session: 2026 Regular Session - Title: Financial institutions; officers and directors. - Status: signed - Chamber: Senate - Introduced: 2026-01-16 - Last action: 2026-04-13, Acts of Assembly Chapter text (CHAP0903) - Sponsor: T. Travis Hackworth (Republican) - Cosponsors: 0 - Touches household money: yes - Roll calls: 8 (222 yes, 0 no in all) - Economic provisions PRIA read: 1 ## Summary Financial institutions; officers and directors. Provides that the State Corporation Commission may permit, upon petition, an individual to serve as an officer or on the boards of directors of more than one financial institution if the Commission finds that the financial institutions are not in competition with each other or that one or both of the institutions might otherwise be denied capable management or direction from an individual residing in or employed in the locality served by an institution. ## Bill overview: provisions PRIA read - Limits on dual roles at financial institutions: mixed, low. The law restricts officers and directors of most financial institutions from serving at another financial institution at the same time. This ban does not apply to consumer finance companies or credit unions based in Virginia. It is also allowed when both firms are in the same financial holding comp… ## Sponsors and cosponsors - Sponsor: T. Travis Hackworth (Republican), Senate ## Roll call votes | Date | Chamber | Motion | Result | Yes | No | Other | | --- | --- | --- | --- | --- | --- | --- | | 2026-03-10 | House | Passed House Block Vote | pass | 99 | 0 | | | 2026-03-05 | House | Reported from Labor and Commerce | pass | 21 | 0 | | | 2026-03-03 | House | Subcommittee recommends reporting | pass | 9 | 0 | | | 2026-01-30 | Senate | Read third time and passed Senate Block Vote | pass | 38 | 0 | | | 2026-01-29 | Senate | Engrossed by Senate Block Vote (Voice Vote) | pass | 0 | 0 | | | 2026-01-28 | Senate | Passed by for the day Block Vote (Voice Vote) | pass | 0 | 0 | | | 2026-01-28 | Senate | Constitutional reading dispensed Block Vote (on 1st reading) | pass | 40 | 0 | | | 2026-01-26 | Senate | Reported from Commerce and Labor | pass | 15 | 0 | | ## Actions (29) - 2026-04-13: Acts of Assembly Chapter text (CHAP0903) (Governor) - 2026-04-13: Approved by Governor-Chapter 903 (effective 7/1/2026) (Governor) - 2026-04-06: Fiscal Impact Statement from State Corporation Commission (SB734) (Senate) - 2026-03-31: Governor's Action Deadline 11:59 p.m., April 13, 2026 (Governor) - 2026-03-31: Enrolled Bill communicated to Governor on March 31, 2026 (Senate) - 2026-03-31: Signed by Speaker (House) - 2026-03-30: Bill text as passed Senate and House (SB734ER) (Senate) - 2026-03-30: Enrolled (Senate) - 2026-03-30: Signed by President (Senate) - 2026-03-10: Passed House Block Vote (99-Y 0-N 0-A) (House) - 2026-03-10: Read third time (House) - 2026-03-09: Read second time (House) - 2026-03-05: Reported from Labor and Commerce (21-Y 0-N) (House) - 2026-03-03: Subcommittee recommends reporting (9-Y 0-N) (House) - 2026-02-25: Assigned HCL sub: Subcommittee #1 (House) - 2026-02-04: Referred to Committee on Labor and Commerce (House) - 2026-02-04: Read first time (House) - 2026-02-04: Placed on Calendar (House) - 2026-01-30: Read third time and passed Senate Block Vote (38-Y 0-N 0-A) (Senate) - 2026-01-29: Engrossed by Senate Block Vote (Voice Vote) (Senate) - 2026-01-29: Read second time (Senate) - 2026-01-28: Passed by for the day Block Vote (Voice Vote) (Senate) - 2026-01-28: Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A) (Senate) - 2026-01-28: Passed by for the day (Senate) - 2026-01-28: Rules suspended (Senate) - 2026-01-26: Reported from Commerce and Labor (15-Y 0-N) (Senate) - 2026-01-25: Fiscal Impact Statement from State Corporation Commission (SB734) (Senate) - 2026-01-16: Referred to Committee on Commerce and Labor (Senate) - 2026-01-16: Presented and ordered printed 26104585D (Senate) ## Bill text - Chaptered, 2026-04-13: [HTML](https://lis.blob.core.windows.net/files/1223164.HTML), [PDF](https://lis.blob.core.windows.net/files/1223163.PDF) - Enrolled, 2026-03-30: [HTML](https://lis.blob.core.windows.net/files/1209929.HTML), [PDF](https://lis.blob.core.windows.net/files/1209928.PDF) - Introduced, 2026-01-16: [HTML](https://lis.blob.core.windows.net/files/1092215.HTML), [PDF](https://lis.blob.core.windows.net/files/1092214.PDF) ## Related bills - HB5: Employment; paid sick leave, civil penalties. (signed) - SB199: Employment; paid sick leave, civil penalties. (signed) - HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with rental agreement. (signed) - HB1393: Electric utilities; pilot program for energy assistance and weatherization for certain individuals. (signed) - HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, termination by landlord. (signed) - HB675: Protection of employees; coercion or threat based on immigration status, civil penalty. (signed) ## Sources - [Chaptered (HTML)](https://lis.blob.core.windows.net/files/1223164.HTML) - [Chaptered (PDF)](https://lis.blob.core.windows.net/files/1223163.PDF) - [Enrolled (HTML)](https://lis.blob.core.windows.net/files/1209929.HTML) - [Enrolled (PDF)](https://lis.blob.core.windows.net/files/1209928.PDF) - [Introduced (HTML)](https://lis.blob.core.windows.net/files/1092215.HTML) - [Introduced (PDF)](https://lis.blob.core.windows.net/files/1092214.PDF) ## Related - [HB5: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-HB5-2026) - [SB199: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-SB199-2026) - [HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with…](https://policyrisk.com/state-bill/VA-HB95-2026) - [HB1393: Electric utilities; pilot program for energy assistance and weatherization for…](https://policyrisk.com/state-bill/VA-HB1393-2026) - [HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, terminat…](https://policyrisk.com/state-bill/VA-HB834-2026) - [HB675: Protection of employees; coercion or threat based on immigration status, civil…](https://policyrisk.com/state-bill/VA-HB675-2026) - [Virginia bills](https://policyrisk.com/states/virginia/bills) - [Virginia state hub](https://policyrisk.com/states/virginia) - [All state legislation](https://policyrisk.com/state-bills) Source: PRIA, https://policyrisk.com/state-bill/VA-SB734-2026 (as of 2026-10-12).