VA SB479

Amends 18 sections and adds 2 new sections to the Virginia Stock Corporation Act (Title 13.1, Chapter 9) governing the formation, operation, and governance of stock corporations in the Commonwealth.

Clarifies the definition of "disinterested director" to specify that nomination by a defendant in a derivative proceeding or person against whom action is demanded does not automatically disqualify a director from being disinterested.

Modifies registered agent requirements for initial articles of incorporation to specify that an individual agent must be a Virginia resident who is either designated as a director in the initial articles or a member of the Virginia State Bar.

Removes the fee for initial registration of a corporate name, retaining only the $25 fee for renewal of corporate name registration.

Updates terminology and cross-references throughout the Act, including clarifying references to derivative proceedings and board of directors actions.