Search
 

Virginia SCC to reorganize

RICHMOND, Va. - State Senator Thomas Norment Jr. (R-James City) has introduced a bill that would increase the size of the State Corporation Commission (SCC) from three to five members. The announced changes are partly in response to the findings of two studies of the agency conducted last year. Most...

By Staff Writer | Updated on January 22, 2002

<p>RICHMOND, Va. – State Senator Thomas Norment Jr. (R-James City) has introduced a bill that would increase the size of the State Corporation Commission (SCC) from three to five members. The announced changes are partly in response to the findings of two studies of the agency conducted last year. Most of the changes will be made Feb. 1. One of the most important changes will involve the creation of a buffer between the SCC and its regulatory staffs. Two new counsels will help ensure that the regulatory staff doesn’t have “undue” influence on SCC decisions. As part of another major change, the chairman of the commission will be named the agency’s chief operating officer. The SCC has authority over state-chartered financial institutions, public utilities, insurance, securities businesses, retail franchising and railroads.</p>

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.