There is a newer version of the Code of Virginia
2015 Code of Virginia
Title 13.1 - Corporations
Chapter 1. STOCK CORPORATIONS [Repealed]- § 13.1-1. Repealed
- § 13.1-200. Repealed
- § 13.1-201. Repealed
- § 13.1-300. Repealed
Article 1. COOPERATIVE ASSOCIATIONS GENERALLY
- § 13.1-301. Organization of cooperative associations; purposes; name; par value stock required
- § 13.1-301.1. Amendments to articles of incorporation
- § 13.1-301.2. Adoption, change or repeal of bylaws; subject matter
- § 13.1-302. Limitation of individual stockholding
- § 13.1-303. Investment in other stock
- § 13.1-304. Purchase of business by issue of shares of stock
- § 13.1-305. Rights of subscribers before full payment
- § 13.1-306. Distribution of earnings
- § 13.1-307. Permissible limitation of stock ownership or voting rights
- § 13.1-308. Limitation of use of "cooperative" in corporate name
- § 13.1-309. Other cooperatives may come under article
- § 13.1-309.1. Foreign cooperatives
- § 13.1-310. Cooperative associations may give certain liens on rotating stocks
- § 13.1-311. Taxation
- § 13.1-311.1. Provisions relating to dissolution of and revocation of certificates of associations
Article 2. AGRICULTURAL COOPERATIVE ASSOCIATIONS
- § 13.1-312. Declaration of policy [Not set out]
- § 13.1-313. Definitions
- § 13.1-314. Qualification of incorporators
- § 13.1-315. Purposes
- § 13.1-316. Articles of incorporation
- § 13.1-317. Filing and recording articles of incorporation
- § 13.1-318. Amendments to the articles of incorporation
- § 13.1-319. Bylaws
- § 13.1-320. Powers
- § 13.1-321. Members
- § 13.1-322. Membership or voting stock certificates; transfers; dividends; nonvoting stock
- § 13.1-323. General and special meetings; how called
- § 13.1-324. Directors generally; executive committee
- § 13.1-325. Removal of director
- § 13.1-326. Officers generally
- § 13.1-327. Removal of officer
- § 13.1-328. Referendum
- § 13.1-329. Marketing contracts; enforcement; inducing breach; spreading false reports
- § 13.1-330. Recordation of marketing contracts
- § 13.1-331. Associations are not in restraint of trade
- § 13.1-332. Voluntary dissolution
- § 13.1-333. Repealed
- § 13.1-333.1. Annual reports
- § 13.1-334. Application to existing associations
- § 13.1-335. Saving clause
- § 13.1-336. Limitations of the use of the word "cooperative."
- § 13.1-337. Foreign associations
- § 13.1-338. Purchasing business of other associations, persons, firms or corporations; stock issued
- § 13.1-339. Merger or consolidation
- § 13.1-340. Sale, mortgage or other disposition of assets
- § 13.1-341. Taxes
- § 13.1-342. Reserved
- § 13.1-343. Application of general corporation laws
- § 13.1-344. Existing associations continued
- § 13.1-345. Verification no longer required; signing instrument containing misstatement as perjury
- § 13.1-346. Reserved
- § 13.1-400.1. Definitions
- § 13.1-400.2. Prerequisites to doing business in Commonwealth
- § 13.1-400.3. Applications for licenses; fees; expiration and renewal; surety bond
- § 13.1-400.4. Services licensed under other statutes
- § 13.1-400.4:1. Automobile club agents
- § 13.1-400.5. Suspension, revocation or failure to renew license; fine for violations
- § 13.1-400.6. Enjoining violations; contempt proceedings
- § 13.1-400.7. Fraudulent misstatement of fact or willful breach of promise a violation
- § 13.1-400.8. Chapter not to limit powers of insurance company
- § 13.1-400.9. Rules and regulations
- § 13.1-400.10. Exemption
- § 13.1-401. Repealed
- § 13.1-423. Repealed
- § 13.1-424. Repealed
- § 13.1-433. Repealed
- § 13.1-434. Definitions
- § 13.1-435. Corporate securities registered in joint names with right of survivorship
- § 13.1-436. To what transfers of securities applicable
- § 13.1-437. Reserved
Article 1. DEFINITIONS
Article 2. UNLAWFUL PRACTICES
Article 3. BROKERS-DEALERS, INVESTMENT ADVISORS, INVESTMENT ADVISOR REPRESENTATIVES AND AGENTS
- § 13.1-504. Registration
- § 13.1-504.1. Brokerage services of savings and loan associations, savings banks or service corporations of either; when registration not required
- § 13.1-504.2. Broker-dealer services provided by credit unions; when registration not required
- § 13.1-505. Procedure for registration
- § 13.1-505.1. Post-registration provisions
- § 13.1-506. Revocation of registration
Article 4. REGISTRATION OF SECURITIES
- § 13.1-507. Registration requirement; exemptions
- § 13.1-508. Registration by notification
- § 13.1-509. Registration by coordination
- § 13.1-510. Registration by qualification
- § 13.1-511. Effectiveness and reports
- § 13.1-512. Repealed
- § 13.1-513. Stop orders
Article 5. MISCELLANEOUS
- § 13.1-514. Exemptions
- § 13.1-514.1. Exemption of certain securities by order of Commission
- § 13.1-514.2. Primacy of Virginia law to be maintained
- § 13.1-515. Advertising
- § 13.1-516. Misleading filings
- § 13.1-517. Consent to service of process
- § 13.1-518. Investigations; confidentiality of information and documents
- § 13.1-518.1. Broker-dealers and investment advisors to file certain reports with Commission
- § 13.1-519. Injunctions
- § 13.1-520. Crimes
- § 13.1-520.1. Commission may transmit record or complaint to locality where violation occurred
- § 13.1-521. Violations punishable by the Commission
- § 13.1-522. Civil liabilities
- § 13.1-523. Rules and forms
- § 13.1-523.1. Commission authority to regulate securities and investment advisory activities
- § 13.1-524. Certain records of Commission available to public; admissibility of copies; destruction
- § 13.1-525. Official interpretations
- § 13.1-525.1. Fees to cover expense of regulation
- § 13.1-526. Transition
- § 13.1-527. Short title
- § 13.1-527.01. Repealed
Article 6. DIVISION OF SECURITIES COUNSEL
- § 13.1-527.1. Division created; duties
- § 13.1-527.2. Attorneys, employees and consultants
- § 13.1-527.3. Commission to provide technical assistance
- § 13.1-528. Repealed
- § 13.1-541. Repealed
- § 13.1-542. Legislative intent [Not set out]
- § 13.1-542.1. Practice of certain professions by corporations
- § 13.1-543. Definitions
- § 13.1-544. Who may organize and become shareholder
- § 13.1-544.1. Use of initials "P.C." or "PC" in corporate name
- § 13.1-544.2. Certificate of authority for foreign professional corporations
- § 13.1-545. Repealed
- § 13.1-545.1. Merger with foreign professional corporation or foreign professional limited liability company
- § 13.1-546. How corporation may render professional services; nonprofessional employees and officers; organizers and shareholders need not be employees, etc
- § 13.1-546.1. Professional law corporations may qualify as executor, administrator or in other fiduciary capacity
- § 13.1-547. Professional relationships not affected; liability for debts, etc., of corporation, its directors, officers and employees
- § 13.1-548. Corporation not to engage in other business; investment of funds
- § 13.1-549. Qualifications of shareholders; special provisions for corporations rendering services of architects, professional engineers, landscape architects and land surveyors, and using the title of certified interior designers
- § 13.1-549.1. Special provision for corporation engaged in practice of accounting
- § 13.1-549.2. Registration certificate required for corporation engaged in practice of law
- § 13.1-549.3. Repealed
- § 13.1-550. Transfer of shares
- § 13.1-551. Disqualification of shareholder
- § 13.1-552. Conversion into nonprofessional corporation; disposition of shares of deceased or disqualified shareholders
- § 13.1-553. Board of directors
- § 13.1-554. Repealed
- § 13.1-554.1. Income and property taxes
- § 13.1-555. Merger
- § 13.1-556. Application of Chapter 9 or Chapter 10 of this title
- § 13.1-557. Short title
- § 13.1-558. Policy of the Commonwealth
- § 13.1-559. Definitions; applicability of chapter
- § 13.1-560. Registration required
- § 13.1-561. Procedure for registration; bond; renewal; fee
- § 13.1-561.1. Fees to cover expense of regulation
- § 13.1-562. Revocation of or refusal to renew registration
- § 13.1-563. Unlawful offers
- § 13.1-564. Unlawful cancellation of franchise; undue influence
- § 13.1-565. Voidable franchises
- § 13.1-566. Service of process on nonresident franchisor
- § 13.1-567. Investigations; confidentiality of information and documents
- § 13.1-568. Injunctions
- § 13.1-569. Crimes
- § 13.1-569.1. Commission may transmit record or complaint to locality where violation occurred
- § 13.1-570. Violations punishable by Commission
- § 13.1-571. Civil remedies
- § 13.1-572. Rules and forms
- § 13.1-573. Certain records of Commission available to public; admissibility of copies; destruction
- § 13.1-574. Effective date
Article 1. GENERAL PROVISIONS
- § 13.1-601. Short title
- § 13.1-602. Reservation of power to amend or repeal
- § 13.1-603. Definitions
- § 13.1-604. Filing requirements
- § 13.1-604.1. Filings with the Commission pursuant to reorganization
- § 13.1-605. Issuance of certificate by Commission; recordation of documents
- § 13.1-606. Effective time and date of document
- § 13.1-607. Correcting filed articles
- § 13.1-608. Evidentiary effect of copy of filed document
- § 13.1-609. Certificate of good standing
- § 13.1-610. Notices and other communications
- § 13.1-610.1. Householding
- § 13.1-611. Number of shareholders
- § 13.1-612. Penalty for signing false documents
- § 13.1-613. Unlawful to transact or offer to transact business as a corporation unless authorized
- § 13.1-614. Hearing and finality of Commission action; injunctions
Article 2. FEES
- § 13.1-615. Fees to be collected by Commission; application of payment; payment of fees prerequisite to Commission action; exceptions
- § 13.1-615.1. Charter and entrance fees for corporations
- § 13.1-616. Fees for filing documents or issuing certificates
- § 13.1-617. Repealed
Article 3. FORMATION OF CORPORATIONS
- § 13.1-618. Incorporators
- § 13.1-619. Articles of incorporation
- § 13.1-620. Special kinds of business
- § 13.1-621. Issuance of certificate of incorporation
- § 13.1-622. Liability for preincorporation transactions
- § 13.1-623. Organization of corporation
- § 13.1-624. Bylaws
- § 13.1-625. Emergency bylaws
Article 4. PURPOSES AND POWERS
- § 13.1-626. Purposes
- § 13.1-627. General powers
- § 13.1-628. Emergency powers
- § 13.1-629. Ultra vires
Article 5. NAME
- § 13.1-630. Corporate name
- § 13.1-631. Reserved name
- § 13.1-632. Registered name
- § 13.1-633. Repealed
Article 6. OFFICE AND AGENT
- § 13.1-634. Registered office and registered agent
- § 13.1-635. Change of registered office or registered agent
- § 13.1-636. Resignation of registered agent
- § 13.1-637. Service on corporation
Article 7. SHARES AND DISTRIBUTIONS
- § 13.1-638. Authorized shares
- § 13.1-639. Terms of class or series determined by board of directors
- § 13.1-640. Issued and outstanding shares
- § 13.1-641. Fractional shares
- § 13.1-642. Subscription for shares before incorporation
- § 13.1-643. Issuance of shares
- § 13.1-644. Liability for shares issued before payment
- § 13.1-645. Share dividends
- § 13.1-646. Share options
- § 13.1-647. Form and content of certificates evidencing shares and form of bonds
- § 13.1-648. Shares without certificates
- § 13.1-649. Restriction on transfer of shares and other securities
- § 13.1-650. Expense of issue
- § 13.1-651. Shareholders' preemptive rights
- § 13.1-652. Corporation's acquisition of its own shares
- § 13.1-653. Distributions to shareholders
Article 8. SHAREHOLDERS
- § 13.1-654. Annual meeting
- § 13.1-655. Special meeting
- § 13.1-656. Court-ordered meeting
- § 13.1-657. Action without meeting
- § 13.1-658. Notice of meeting
- § 13.1-659. Waiver of notice
- § 13.1-660. Record date
- § 13.1-660.1. Conduct of the meeting
- § 13.1-660.2. Remote participation in annual and special meetings
- § 13.1-661. Shareholders' list for meeting
- § 13.1-662. Voting entitlement of shares
- § 13.1-663. Proxies
- § 13.1-664. Shares held by nominees
- § 13.1-664.1. Voting procedures and inspectors of elections
- § 13.1-665. Corporation's acceptance of votes
- § 13.1-666. Quorum and voting requirements for voting groups
- § 13.1-667. Action by single and multiple voting groups
- § 13.1-668. Change in quorum or voting requirements
- § 13.1-669. Voting for directors; cumulative voting
- § 13.1-669.1. Judicial determination of corporate officers and review of elections and shareholder votes
- § 13.1-670. Voting trusts
- § 13.1-671. Voting agreements
- § 13.1-671.1. Shareholder agreements
- § 13.1-672. Repealed
Article 8.1. DERIVATIVE PROCEEDINGS AND OTHER SHAREHOLDER ACTIONS
- § 13.1-672.1. Standing; condition precedent; stay of proceedings
- § 13.1-672.2. Discontinuance or settlement
- § 13.1-672.3. Foreign corporations
- § 13.1-672.4. Dismissal
- § 13.1-672.5. Payment of and security for expenses
- § 13.1-672.6. Shareholder action to appoint custodian or receiver for a public corporation
Article 9. DIRECTORS AND OFFICERS
- § 13.1-673. Requirement for and duties of board of directors
- § 13.1-674. Qualification of directors or for nomination for director
- § 13.1-675. Number and election of directors
- § 13.1-676. Election of directors by certain classes of shareholders
- § 13.1-677. Terms of directors generally
- § 13.1-678. Staggered terms for directors
- § 13.1-679. Resignation of directors
- § 13.1-680. Removal of directors by shareholders
- § 13.1-681. Repealed
- § 13.1-682. Vacancy on board of directors
- § 13.1-683. Compensation of directors
- § 13.1-684. Meetings of the board of directors
- § 13.1-685. Action without meeting of board of directors
- § 13.1-686. Notice of board of directors' meetings
- § 13.1-687. Waiver of notice by director
- § 13.1-688. Quorum and voting by directors
- § 13.1-689. Committees
- § 13.1-690. General standards of conduct for director
- § 13.1-690.1. Director of open-end management investment company deemed independent and disinterested
- § 13.1-691. Director conflict of interests
- § 13.1-691.1. Business opportunities
- § 13.1-692. Liability for unlawful distributions
- § 13.1-692.1. Limitation on liability of officers and directors; exception
- § 13.1-693. Required officers
- § 13.1-694. Duties of officers
- § 13.1-695. Resignation and removal of officers
Article 10. INDEMNIFICATION
- § 13.1-696. Definitions
- § 13.1-697. Authority to indemnify
- § 13.1-698. Mandatory indemnification
- § 13.1-699. Advance for expenses
- § 13.1-700. Repealed
- § 13.1-700.1. Court orders for advances, reimbursement or indemnification
- § 13.1-701. Determination and authorization of indemnification
- § 13.1-702. Indemnification of officers
- § 13.1-703. Insurance
- § 13.1-704. Application of article
Article 11. AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS
- § 13.1-705. Authority to amend articles of incorporation
- § 13.1-706. Amendment of articles of incorporation by directors
- § 13.1-707. Amendment of articles of incorporation by directors and shareholders
- § 13.1-708. Voting on amendments by voting groups
- § 13.1-709. Amendment before issuance of shares
- § 13.1-710. Articles of amendment
- § 13.1-711. Restated articles of incorporation
- § 13.1-712. Repealed
- § 13.1-713. Effect of amendment of articles of incorporation
- § 13.1-714. Amendment of bylaws by board of directors or shareholders
- § 13.1-715. Bylaw provisions increasing quorum or voting requirements for directors
Article 12. MERGERS AND SHARE EXCHANGES
- § 13.1-715.1. Definitions
- § 13.1-716. Merger
- § 13.1-717. Share exchange
- § 13.1-718. Action on a plan of merger or share exchange
- § 13.1-719. Merger between parent and subsidiary or between subsidiaries
- § 13.1-719.1. Formation of a holding company
- § 13.1-720. Articles of merger or share exchange
- § 13.1-721. Effect of merger or share exchange
- § 13.1-721.1. Abandonment of a merger or share exchange
- § 13.1-722. Repealed
Article 12.1. DOMESTICATION
- § 13.1-722.2. Domestication
- § 13.1-722.3. Action on plan of domestication by a domestic corporation
- § 13.1-722.4. Articles of domestication
- § 13.1-722.5. Surrender of articles of incorporation upon domestication
- § 13.1-722.6. Effect of domestication
- § 13.1-722.7. Abandonment of domestication
Article 12.2. CONVERSION
- § 13.1-722.8. Definitions
- § 13.1-722.9. Entity conversion
- § 13.1-722.10. Plan of entity conversion
- § 13.1-722.11. Action on plan of entity conversion
- § 13.1-722.12. Articles of entity conversion
- § 13.1-722.13. Effect of entity conversion
- § 13.1-722.14. Abandonment of entity conversion
Article 13. DISPOSITION OF ASSETS
- § 13.1-723. Disposition of assets not requiring shareholder approval
- § 13.1-724. Shareholder approval of certain dispositions
Article 14. AFFILIATED TRANSACTIONS
- § 13.1-725. Definitions
- § 13.1-725.1. Affiliated transactions
- § 13.1-726. Voting requirements for affiliated transactions
- § 13.1-726.1. Determination by disinterested directors
- § 13.1-727. Exceptions
- § 13.1-727.1. Nonexclusivity
- § 13.1-728. Repealed
Article 14.1. CONTROL SHARE ACQUISITIONS
- § 13.1-728.1. Definitions
- § 13.1-728.2. Application
- § 13.1-728.3. Voting rights
- § 13.1-728.4. Control share acquisition statement
- § 13.1-728.5. Meeting of shareholders
- § 13.1-728.6. Notice to shareholders
- § 13.1-728.7. Redemption
- § 13.1-728.8. Appraisal rights
- § 13.1-728.9. Nonexclusivity
Article 15. APPRAISAL RIGHTS AND OTHER REMEDIES
- § 13.1-729. Definitions
- § 13.1-730. Right to appraisal
- § 13.1-731. Assertion of rights by nominees and beneficial owners
- § 13.1-732. Notice of appraisal rights
- § 13.1-733. Notice of intent to demand payment
- § 13.1-734. Appraisal notice and form
- § 13.1-735. Repealed
- § 13.1-735.1. Perfection of rights; right to withdraw
- § 13.1-736. Repealed
- § 13.1-737. Payment
- § 13.1-738. After-acquired shares
- § 13.1-739. Procedure if shareholder dissatisfied with payment or offer
- § 13.1-740. Court action
- § 13.1-741. Court costs and counsel fees
- § 13.1-741.1. Limitations on other remedies for fundamental transactions
Article 16. DISSOLUTION
- § 13.1-742. Dissolution by directors and shareholders
- § 13.1-743. Articles of dissolution
- § 13.1-744. Revocation of dissolution
- § 13.1-745. Effect of dissolution
- § 13.1-746. Known claims against dissolved corporation
- § 13.1-746.1. Other claims against dissolved corporation
- § 13.1-746.2. Court proceedings
- § 13.1-746.3. Director duties
- § 13.1-747. Grounds for judicial dissolution
- § 13.1-748. Receivership or custodianship
- § 13.1-749. Decree of dissolution
- § 13.1-749.1. Election to purchase in lieu of dissolution
- § 13.1-750. Articles of termination of corporate existence
- § 13.1-751. Termination of corporate existence by incorporators or initial directors
- § 13.1-752. Automatic termination of corporate existence
- § 13.1-753. Involuntary termination of corporate existence
- § 13.1-754. Reinstatement of a corporation that has ceased to exist
- § 13.1-755. Survival of remedy after termination of corporate existence
- § 13.1-756. Repealed
Article 17. FOREIGN CORPORATIONS
- § 13.1-757. Authority to transact business required
- § 13.1-758. Consequences of transacting business without authority
- § 13.1-759. Application for certificate of authority
- § 13.1-760. Amended certificate of authority
- § 13.1-761. Effect of certificate of authority
- § 13.1-762. Corporate name of foreign corporation
- § 13.1-763. Registered office and registered agent of foreign corporation
- § 13.1-764. Change of registered office or registered agent of a foreign corporation
- § 13.1-765. Resignation of registered agent of foreign corporation
- § 13.1-766. Service of process on foreign corporation
- § 13.1-766.1. Merger of foreign corporation authorized to transact business in Commonwealth
- § 13.1-766.2. Entity conversion of foreign corporation authorized to transact business in Commonwealth
- § 13.1-767. Withdrawal of foreign corporation
- § 13.1-768. Automatic revocation of certificate of authority
- § 13.1-769. Involuntary revocation of certificate of authority
- § 13.1-769.1. Reinstatement of a foreign corporation whose certificate of authority has been withdrawn or revoked
Article 18. RECORDS AND REPORTS
- § 13.1-770. Corporate records
- § 13.1-771. Inspection of records by shareholders
- § 13.1-772. Scope of inspection right
- § 13.1-773. Court-ordered inspection
- § 13.1-773.1. Inspection of records by directors
- § 13.1-774. Financial statements for shareholders
- § 13.1-775. Annual report of domestic and foreign corporations
- § 13.1-775.1. Annual registration fees to be paid by domestic and foreign corporations; penalty for failure to pay timely
- § 13.1-775.2. Collection of unpaid bills for registration fees
Article 19. PROCEEDING FOR DETERMINATION OF SHAREHOLDERS
Article 20. TRANSITION PROVISIONS
Article 21. MISCELLANEOUS PROVISIONS
Article 22. BENEFIT CORPORATIONS
- § 13.1-782. Definitions
- § 13.1-783. Application and effect of article
- § 13.1-784. Formation of benefit corporations
- § 13.1-785. Election of status after formation
- § 13.1-786. Termination of status
- § 13.1-787. Corporate purposes
- § 13.1-788. Standard of conduct for directors
- § 13.1-789. Limitation upon liability of officers
- § 13.1-790. Right of action
- § 13.1-791. Annual benefit report
- § 13.1-792. Reserved
Article 1. GENERAL PROVISIONS
- § 13.1-801. Short title
- § 13.1-802. Reservation of power to amend or repeal
- § 13.1-803. Definitions
- § 13.1-804. Filing requirements
- § 13.1-804.1. Filing with the Commission pursuant to reorganization
- § 13.1-805. Issuance of certificate by Commission; recordation of documents
- § 13.1-806. Effective time and date of document
- § 13.1-807. Correcting filed articles
- § 13.1-808. Evidentiary effect of copy of filed document
- § 13.1-809. Certificate of good standing
- § 13.1-810. Notices and other communications
- § 13.1-810.1. Number of members
- § 13.1-811. Penalty for signing false documents
- § 13.1-812. Unlawful to transact or offer to transact business as a corporation unless authorized
- § 13.1-813. Hearing and finality of Commission action; injunctions
- § 13.1-814. Shares of stock and dividends prohibited
- § 13.1-814.1. Special provisions for community associations
Article 2. FEES
- § 13.1-815. Fees to be collected by Commission; payment of fees prerequisite to Commission action; exceptions
- § 13.1-815.1. Charter and entrance fees for corporations
- § 13.1-816. Fees for filing documents or issuing certificates
- § 13.1-817. Repealed
Article 3. FORMATION OF CORPORATIONS
- § 13.1-818. Incorporators
- § 13.1-819. Articles of incorporation
- § 13.1-820. Issuance of certificate of incorporation
- § 13.1-821. Liability for preincorporation transactions
- § 13.1-822. Organization of corporation
- § 13.1-823. Bylaws
- § 13.1-824. Emergency bylaws
Article 4. PURPOSES AND POWERS
- § 13.1-825. Purposes
- § 13.1-826. General powers
- § 13.1-827. Emergency powers
- § 13.1-828. Ultra vires
Article 5. NAME
- § 13.1-829. Corporate name
- § 13.1-830. Reserved name
- § 13.1-831. Registered name
- § 13.1-832. Repealed
Article 6. OFFICE AND AGENT
- § 13.1-833. Registered office and registered agent
- § 13.1-834. Change of registered office or registered agent
- § 13.1-835. Resignation of registered agent
- § 13.1-836. Service on corporation
Article 7. MEMBERS AND MEETINGS
- § 13.1-837. Members
- § 13.1-838. Annual meeting
- § 13.1-839. Special meeting
- § 13.1-840. Court-ordered meeting
- § 13.1-841. Corporate action without meeting
- § 13.1-842. Notice of meeting
- § 13.1-843. Waiver of notice
- § 13.1-844. Record date
- § 13.1-844.1. Conduct of the meeting
- § 13.1-844.2. Remote participation in annual and special meetings
- § 13.1-845. Members' list for meeting
- § 13.1-846. Voting entitlement of members
- § 13.1-847. Proxies
- § 13.1-847.1. Voting procedures and inspectors of elections
- § 13.1-848. Corporation's acceptance of votes
- § 13.1-849. Quorum and voting requirements for voting groups
- § 13.1-850. Action by single and multiple voting groups
- § 13.1-851. Change in quorum or voting requirements
- § 13.1-852. Voting for directors; cumulative voting
Article 7.1. MEMBER OR DIRECTOR AGREEMENTS
Article 8. DIRECTORS AND OFFICERS
- § 13.1-853. Requirement for and duties of board of directors
- § 13.1-854. Qualification of directors
- § 13.1-855. Number and election of directors
- § 13.1-856. Election of directors by certain classes of members
- § 13.1-857. Terms of directors generally
- § 13.1-858. Staggered terms of directors
- § 13.1-859. Resignation of directors
- § 13.1-860. Removal of directors
- § 13.1-861. Judicial review of elections
- § 13.1-862. Vacancy on board of directors
- § 13.1-863. Compensation of directors
- § 13.1-864. Meetings of the board of directors
- § 13.1-865. Action without meeting of board of directors
- § 13.1-866. Notice of board of directors' meetings
- § 13.1-867. Waiver of notice by director
- § 13.1-868. Quorum and voting by directors
- § 13.1-869. Committees
- § 13.1-870. General standards of conduct for directors
- § 13.1-870.1. Limitation on liability of officers and directors; exception
- § 13.1-870.2. Limitation on liability of officers and directors; additional exception
- § 13.1-871. Director conflict of interests
- § 13.1-871.1. Business opportunities
- § 13.1-872. Required officers
- § 13.1-873. Duties of officers
- § 13.1-874. Resignation and removal of officers
Article 9. INDEMNIFICATION
- § 13.1-875. Definitions
- § 13.1-876. Authority to indemnify
- § 13.1-877. Mandatory indemnification
- § 13.1-878. Advance for expenses
- § 13.1-879. Repealed
- § 13.1-879.1. Court orders for advances, reimbursement or indemnification
- § 13.1-880. Determination and authorization of indemnification
- § 13.1-881. Indemnification of officers
- § 13.1-882. Insurance
- § 13.1-883. Application of article
Article 10. AMENDMENT OF ARTICLES OF INCORPORATION AND BYLAWS
- § 13.1-884. Authority to amend articles of incorporation
- § 13.1-885. Amendment of articles of incorporation by directors
- § 13.1-886. Amendment of articles of incorporation by directors and members
- § 13.1-887. Voting on amendments by voting groups
- § 13.1-887.1. Amendment prior to organization
- § 13.1-888. Articles of amendment
- § 13.1-889. Restated articles of incorporation
- § 13.1-890. Repealed
- § 13.1-891. Effect of amendment of articles of incorporation
- § 13.1-892. Amendment of bylaws by board of directors or members
- § 13.1-893. Bylaw provisions increasing quorum or voting requirements for directors
Article 11. MERGER
- § 13.1-893.1. Definitions
- § 13.1-894. Merger
- § 13.1-895. Action on plan of merger
- § 13.1-896. Articles of merger
- § 13.1-897. Effect of merger
- § 13.1-897.1. Abandonment of a merger
- § 13.1-898. Repealed
Article 11.1. DOMESTICATION
- § 13.1-898.2. Domestication
- § 13.1-898.3. Action on plan of domestication by a domestic corporation
- § 13.1-898.4. Articles of domestication
- § 13.1-898.5. Surrender of articles of incorporation upon domestication
- § 13.1-898.6. Effect of domestication
- § 13.1-898.7. Abandonment of domestication
Article 12. SALE OF ASSETS
- § 13.1-899. Sale of assets in regular course of business
- § 13.1-900. Sale of assets other than in regular course of business
- § 13.1-901. Sale of certain real property by incorporated educational institutions
Article 13. DISSOLUTION
- § 13.1-902. Dissolution by directors and members
- § 13.1-903. Dissolution by directors
- § 13.1-904. Articles of dissolution
- § 13.1-905. Revocation of dissolution
- § 13.1-906. Effect of dissolution
- § 13.1-907. Distribution and plan of distribution of assets
- § 13.1-908. Known claims against dissolved corporation
- § 13.1-908.1. Other claims against dissolved corporation
- § 13.1-908.2. Court proceedings
- § 13.1-908.3. Director duties
- § 13.1-909. Grounds for judicial dissolution
- § 13.1-910. Receivership or custodianship
- § 13.1-911. Decree of dissolution
- § 13.1-912. Articles of termination of corporate existence
- § 13.1-913. Termination of corporate existence by incorporators or initial directors
- § 13.1-914. Automatic termination of corporate existence
- § 13.1-915. Involuntary termination of corporate existence
- § 13.1-916. Reinstatement of a corporation that has ceased to exist
- § 13.1-917. Survival of remedy after termination of corporate existence
- § 13.1-918. Repealed
Article 14. FOREIGN CORPORATIONS
- § 13.1-919. Authority to transact business required
- § 13.1-920. Consequences of transacting business without authority
- § 13.1-921. Application for certificate of authority
- § 13.1-922. Amended certificate of authority
- § 13.1-923. Effect of certificate of authority
- § 13.1-924. Corporate name of foreign corporation
- § 13.1-925. Registered office and registered agent of foreign corporation
- § 13.1-926. Change of registered office or registered agent of a foreign corporation
- § 13.1-927. Resignation of registered agent of foreign corporation
- § 13.1-928. Service of process on foreign corporation
- § 13.1-928.1. Merger of foreign corporation authorized to transact business in Commonwealth
- § 13.1-928.2. Entity conversion of foreign corporation authorized to transact business in Commonwealth
- § 13.1-929. Withdrawal of foreign corporation
- § 13.1-930. Automatic revocation of certificate of authority
- § 13.1-931. Involuntary revocation of certificate of authority
- § 13.1-931.1. Reinstatement of foreign corporation whose certificate of authority has been withdrawn or revoked
Article 15. RECORDS AND REPORTS
- § 13.1-932. Corporate records
- § 13.1-933. Inspection of records by members
- § 13.1-934. Scope of inspection right
- § 13.1-935. Court-ordered inspection
- § 13.1-935.1. Inspection of records by directors
- § 13.1-936. Annual report of domestic and foreign corporations
- § 13.1-936.1. Annual registration fees to be paid by domestic and foreign corporations; penalty for failure to pay timely
- § 13.1-936.2. Collection of unpaid bills for registration fees
Article 16. TRANSITION PROVISIONS
- § 13.1-937. Application to existing corporations
- § 13.1-938. Application to certain social, patriotic and benevolent societies incorporated before year 1900; reports by such societies
- § 13.1-939. Saving provision
- § 13.1-940. Repealed
- § 13.1-941. Repealed
Article 17. CONVERSION TO A STOCK CORPORATION
- § 13.1-941.01. Conversion to a domestic stock corporation
- § 13.1-942. Articles of restatement
- § 13.1-943. Fees
- § 13.1-944. Effect of conversion
Article 17.1. CONVERSION TO A LIMITED LIABILITY COMPANY
- § 13.1-944.1. Definitions
- § 13.1-944.2. Entity conversion
- § 13.1-944.3. Plan of entity conversion
- § 13.1-944.4. Action on plan of entity conversion
- § 13.1-944.5. Articles of entity conversion
- § 13.1-944.6. Effect of entity conversion
- § 13.1-944.7. Abandonment of entity conversion
Article 18. MISCELLANEOUS PROVISIONS
Chapter 11. INDUSTRIAL DEVELOPMENT CORPORATIONS- § 13.1-981. How chapter cited
- § 13.1-982. Definitions
- § 13.1-983. Incorporation
- § 13.1-984. Corporate name
- § 13.1-985. Governor to approve articles of incorporation
- § 13.1-986. How funds may be derived
- § 13.1-987. Restrictions on powers of corporation
- § 13.1-988. Acquisition, transfer, etc., of securities and shares of corporation
- § 13.1-989. Membership in corporation; loans from members
- § 13.1-990. Shares and shareholders
- § 13.1-991. Directors
- § 13.1-992. Executive committee
- § 13.1-993. Restrictions on amendments to articles of incorporation
- § 13.1-994. Earned surplus
- § 13.1-995. Members to have rights of shareholders
- § 13.1-996. Corporation not authorized to receive money on deposit; deposit of funds of corporation
- § 13.1-997. Books and records
- § 13.1-998. Credit of Commonwealth not pledged
Article 1. GENERAL PROVISIONS
- § 13.1-1000. Short title
- § 13.1-1001. Reservation of power to amend or repeal
- § 13.1-1001.1. Construction
- § 13.1-1002. Definitions
- § 13.1-1003. Filing requirements
- § 13.1-1004. Issuance of certificate by Commission; recordation of documents
- § 13.1-1005. Fees
- § 13.1-1006. Penalty for signing false documents
- § 13.1-1007. Unlawful to transact or offer to transact business as a limited liability company unless authorized
Article 2. FORMATION
- § 13.1-1008. Purposes
- § 13.1-1009. Powers
- § 13.1-1010. Organizers
- § 13.1-1010.1. Conversion of partnership to limited liability company
- § 13.1-1010.2. Effect of conversion; entity unchanged
- § 13.1-1010.3. Domestication of non-United States entities
- § 13.1-1010.4. Conversions involving corporations and limited liability companies
- § 13.1-1011. Articles of organization
- § 13.1-1011.1. Articles of correction
- § 13.1-1012. Name
- § 13.1-1013. Reserved name
- § 13.1-1014. Amendment of articles of organization
- § 13.1-1014.1. Restatement of articles of organization
Article 3. REGISTERED OFFICE AND AGENT; PRINCIPAL OFFICE
- § 13.1-1015. Registered office and registered agent
- § 13.1-1016. Change of registered office or registered agent
- § 13.1-1017. Resignation of registered agent
- § 13.1-1018. Service on limited liability company
- § 13.1-1018.1. Change of principal office
Article 4. RELATIONSHIP OF A LIMITED LIABILITY COMPANY AND ITS MEMBERS TO THIRD PERSONS
- § 13.1-1019. Liability to third parties
- § 13.1-1020. Parties to actions
- § 13.1-1021. Limited liability company property
- § 13.1-1021.1. Agency of members and managers
Article 5. RELATIONSHIP OF MEMBERS TO EACH OTHER
- § 13.1-1022. Management of limited liability company
- § 13.1-1023. Operating agreement
- § 13.1-1023.1. Remedies for breach of operating agreement by member or manager
- § 13.1-1024. Management of a limited liability company by a manager or managers
- § 13.1-1024.1. General standards of conduct for a manager
- § 13.1-1025. Limitation of liability of members and managers; exception
- § 13.1-1026. Business transactions of members or managers with the limited liability company
- § 13.1-1027. Contributions
- § 13.1-1028. Information and records
Article 6. FINANCE
- § 13.1-1029. Sharing of profits and losses
- § 13.1-1030. Sharing of distributions
- § 13.1-1031. Interim distributions
- § 13.1-1032. Resignation of member
- § 13.1-1033. Repealed
- § 13.1-1034. Distribution in kind
- § 13.1-1035. Restrictions on making distribution
- § 13.1-1036. Liability upon wrongful distribution
- § 13.1-1037. Right to distribution
Article 7. RIGHTS OF AND ASSIGNMENT BY MEMBERS
- § 13.1-1038. Nature of interest in limited liability company
- § 13.1-1038.1. Admission of members
- § 13.1-1039. Assignment of interest
- § 13.1-1040. Right of assignee to become member
- § 13.1-1040.1. Events causing member's dissociation
- § 13.1-1040.2. Effect of a member's dissociation
- § 13.1-1041. Repealed
- § 13.1-1041.1. Member's transferable interest subject to charging order
Article 8. DERIVATIVE ACTIONS
- § 13.1-1042. Right of action; standing; condition precedent; stay of proceeding
- § 13.1-1043. Proper plaintiff
- § 13.1-1044. Pleading
- § 13.1-1045. Expenses
Article 9. DISSOLUTION
- § 13.1-1046. Dissolution; generally
- § 13.1-1047. Judicial dissolution
- § 13.1-1047.1. Waiver of cancellation
- § 13.1-1048. Winding up
- § 13.1-1049. Distribution of assets upon dissolution
- § 13.1-1049.1. Known claims against dissolved limited liability company
- § 13.1-1049.2. Other claims against dissolved limited liability company
- § 13.1-1049.3. Court proceedings
- § 13.1-1050. Articles of cancellation
- § 13.1-1050.1. Repealed
- § 13.1-1050.2. Automatic cancellation of limited liability company existence
- § 13.1-1050.3. Involuntary cancellation of limited liability company existence
- § 13.1-1050.4. Reinstatement of a limited liability company that has ceased to exist
Article 10. FOREIGN LIMITED LIABILITY COMPANIES
- § 13.1-1051. Authority to transact business required; governing law
- § 13.1-1052. Application for certificate of registration
- § 13.1-1053. Repealed
- § 13.1-1054. Name
- § 13.1-1055. Amendments; amended applications for registration
- § 13.1-1056. Voluntary cancellation of certificate of registration
- § 13.1-1056.1. Automatic cancellation of certificate of registration
- § 13.1-1056.2. Involuntary cancellation of certificate of registration
- § 13.1-1056.3. Reinstatement of a certificate of registration that has been canceled
- § 13.1-1057. Transaction of business without registration
- § 13.1-1058. Actions by Attorney General
- § 13.1-1059. Transactions not constituting doing business
- § 13.1-1060. Merger of foreign limited liability company registered to transact business in Commonwealth
- § 13.1-1060.1. Entity conversion of foreign limited liability company registered to transact business in Commonwealth
Article 11. ANNUAL REGISTRATION FEES
- § 13.1-1061. Annual registration fees to be assessed and collected by Commission; application of payment
- § 13.1-1062. Assessment of annual registration fees; annual registration fees to be paid by domestic and foreign limited liability companies
- § 13.1-1063. Repealed
- § 13.1-1064. Penalty for failure to timely pay annual registration fees
- § 13.1-1065. Payment of fees, fines, penalties, and interest prerequisite to Commission action; refunds
- § 13.1-1066. Collection by suit and of unpaid bills
Article 12. MISCELLANEOUS
- § 13.1-1067. Property title records
- § 13.1-1067.1. Repealed
- § 13.1-1068. Repealed
- § 13.1-1069. Repealed
Article 13. MERGER
- § 13.1-1070. Merger
- § 13.1-1071. Approval of merger by domestic limited liability company
- § 13.1-1072. Articles of merger
- § 13.1-1073. Effect of merger
Article 14. DOMESTICATION
- § 13.1-1074. Domestication
- § 13.1-1075. Plan of domestication
- § 13.1-1076. Action on plan of domestication by a domestic limited liability company
- § 13.1-1077. Articles of domestication
- § 13.1-1078. Surrender of articles of organization upon domestication
- § 13.1-1079. Effect of domestication
- § 13.1-1080. Abandonment of domestication
- § 13.1-1100. Reservation of power to amend or repeal
- § 13.1-1101. Legislative purpose
- § 13.1-1101.1. Practice of certain professions by limited liability companies
- § 13.1-1102. Definitions
- § 13.1-1103. Who may become a member
- § 13.1-1104. Use of initials "P.L.C.," "PLC," "P.L.L.C." or "PLLC" in company name
- § 13.1-1105. Certificate of authority for foreign professional limited liability company
- § 13.1-1106. Merger with foreign professional limited liability company or foreign professional corporation
- § 13.1-1107. How limited liability company may render professional services; nonprofessional employees and agents; members and managers need not be employees, etc
- § 13.1-1108. Professional law limited liability company may qualify as executor, administrator or in other fiduciary capacity
- § 13.1-1109. Professional relationships not affected; liability for debts, etc., of limited liability company, its members, managers, employees, and agents
- § 13.1-1110. Professional limited liability company not to engage in other business; investment of funds
- § 13.1-1111. Qualifications of members and managers; special provisions for limited liability companies rendering service of architects, professional engineers, land surveyors and landscape architects, and using the title of certified interior designers
- § 13.1-1112. Special provision for limited liability company engaged in practice of accounting
- § 13.1-1113. Registration certificate required for limited liability company engaged in practice of law
- § 13.1-1114. Repealed
- § 13.1-1115. Transfer of membership interests
- § 13.1-1116. Disqualification of member, manager, agent or employee
- § 13.1-1117. Conversion into nonprofessional company; disposition of membership interests of deceased or disqualified members
- § 13.1-1118. Management
- § 13.1-1119. Repealed
- § 13.1-1120. Income and property taxes
- § 13.1-1121. Merger
- § 13.1-1122. Application of Chapter 12 of this title
- § 13.1-1123. Coordination with other provisions of Virginia Code
Article 1. GENERAL PROVISIONS
- § 13.1-1200. Short title
- § 13.1-1201. Definitions
- § 13.1-1202. Filing requirements
- § 13.1-1203. Issuance of certificate by Commission; recordation of documents
- § 13.1-1204. Fees for filing documents and issuing certificates
- § 13.1-1205. Unlawful to sign false documents; penalty
- § 13.1-1206. Unlawful to transact or offer to transact business as a business trust; penalty
- § 13.1-1207. Tax classification
- § 13.1-1208. Separate legal entity
Article 2. FORMATION
- § 13.1-1209. Purposes
- § 13.1-1210. Powers
- § 13.1-1211. Formation
- § 13.1-1212. Articles of trust
- § 13.1-1213. Articles of correction
- § 13.1-1214. Name
- § 13.1-1215. Reserved name
- § 13.1-1216. Amendment of articles of trust
- § 13.1-1217. Restatement of articles of trust
- § 13.1-1218. Existence
- § 13.1-1219. Governing instrument
Article 3. REGISTERED OFFICE AND AGENT
- § 13.1-1220. Registered office and registered agent
- § 13.1-1221. Change of registered office or registered agent
- § 13.1-1222. Resignation of registered agent
- § 13.1-1223. Service on business trust
Article 4. BENEFICIAL OWNERS
- § 13.1-1224. Beneficial owners
- § 13.1-1225. Limited liability
- § 13.1-1226. Beneficial interests
- § 13.1-1227. Distributions to beneficial owners
Article 5. TRUSTEES
- § 13.1-1228. Trustee management; limitation on duties and liabilities of others
- § 13.1-1229. Trustee standards of conduct; trustee liability; restrictions on liability limitations in governing instrument
- § 13.1-1230. Indemnification
Article 6. LEGAL PROCEEDINGS
Article 7. DERIVATIVE ACTIONS
Article 8. DISSOLUTION
- § 13.1-1234. Dissolution generally
- § 13.1-1235. Judicial dissolution
- § 13.1-1236. Winding up
- § 13.1-1237. Distribution of assets upon dissolution
- § 13.1-1238. Articles of cancellation
- § 13.1-1238.1. Automatic cancellation of business trust existence
- § 13.1-1238.2. Involuntary cancellation of business trust existence
- § 13.1-1239. Reinstatement of a business trust that has ceased to exist
- § 13.1-1240. Dissolution of series
Article 9. FOREIGN BUSINESS TRUSTS
- § 13.1-1241. Authority to transact business required; governing law
- § 13.1-1242. Application for certificate of registration
- § 13.1-1243. Repealed
- § 13.1-1244. Name
- § 13.1-1245. Amendments; amended applications for registration
- § 13.1-1246. Voluntary cancellation of certificate of registration
- § 13.1-1246.1. Automatic cancellation of registration
- § 13.1-1246.2. Involuntary cancellation of registration
- § 13.1-1246.3. Reinstatement of a certificate of registration that has been canceled
- § 13.1-1247. Transaction of business without registration; civil penalty
- § 13.1-1248. Actions by Attorney General
- § 13.1-1249. Transactions not constituting doing business
- § 13.1-1250. Merger of foreign business trust registered to transact business in Commonwealth
- § 13.1-1250.1. Entity conversion of foreign business trust registered to transact business in Commonwealth
Article 10. ANNUAL REGISTRATION FEES
- § 13.1-1251. Annual registration fees to be assessed and collected by Commission; application of payment
- § 13.1-1252. Assessment of annual registration fees; annual registration fee to be paid by domestic and foreign business trusts
- § 13.1-1253. Repealed
- § 13.1-1254. Penalty for failure to timely pay annual registration fees or file statement of change
- § 13.1-1255. Payment of fees, fines, penalties, and interest prerequisite to Commission action; refunds
- § 13.1-1256. Collection by suit and of unpaid bills
Article 11. MERGER
- § 13.1-1257. Authorization for merger
- § 13.1-1258. Approval
- § 13.1-1259. Exchange of securities; termination or amendment of merger
- § 13.1-1260. Repealed
- § 13.1-1261. Articles of merger
- § 13.1-1262. Governing instrument
- § 13.1-1263. Effect of merger
Article 12. DOMESTICATION AND CONVERSION
- § 13.1-1264. Definitions
- § 13.1-1265. Domestication
- § 13.1-1266. Plan of domestication
- § 13.1-1267. Action on plan of domestication by a domestic business trust
- § 13.1-1268. Articles of domestication
- § 13.1-1269. Surrender of articles of trust upon domestication
- § 13.1-1270. Effect of domestication
- § 13.1-1271. Abandonment of domestication
- § 13.1-1272. Entity conversion
- § 13.1-1273. Plan of entity conversion
- § 13.1-1274. Action on plan of entity conversion
- § 13.1-1275. Articles of entity conversion
- § 13.1-1276. Effect of entity conversion
- § 13.1-1277. Abandonment of entity conversion
Article 13. REPORTS AND RECORDS
- § 13.1-1278. Trust records
- § 13.1-1279. Inspection of records by beneficial owners
- § 13.1-1280. Scope of inspection right
- § 13.1-1281. Court-ordered inspection
Article 14. MISCELLANEOUS
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