2006 Code of Virginia § 13.1-660 - Record date

13.1-660. Record date.

A. The bylaws may fix or provide the manner of fixing in advance the recorddate for one or more voting groups in order to make a determination ofshareholders for any purpose. If the bylaws do not fix or provide for fixinga record date, the board of directors of the corporation may fix as therecord date the date on which it takes such action or a future date.

B. A record date fixed under this section may not be more than 70 days beforethe meeting or action requiring a determination of shareholders.

C. A determination of shareholders entitled to notice of or to vote at ashareholders' meeting is effective for any adjournment of the meeting unlessthe board of directors fixes a new record date, which it shall do if themeeting is adjourned to a date more than 120 days after the date fixed forthe original meeting.

D. If a court orders a meeting adjourned to a date more than 120 days afterthe date fixed for the original meeting, it may provide that the originalrecord date continues in effect or it may fix a new record date.

(Code 1950, 13-192, 13.1-29; 1952, c. 88; 1956, c. 428; 1985, c. 522;2005, c. 765.)