2006 Code of Virginia § 13.1-923 - Effect of certificate of authority
13.1-923. Effect of certificate of authority.
A. A certificate of authority authorizes the foreign corporation to which itis issued to transact business in this Commonwealth, subject, however, to theright of this Commonwealth to revoke the certificate as provided in thischapter.
B. A foreign corporation holding a valid certificate of authority shall haveno greater rights and privileges than a domestic corporation. The certificateof authority shall not be deemed to authorize it to exercise any of itscorporate powers or purposes that a foreign corporation is forbidden by lawto exercise in this Commonwealth.
C. This Act does not authorize this Commonwealth to regulate the organizationor internal affairs of a foreign corporation authorized to transact businessin this Commonwealth.
(Code 1950, 13.1-266, 13.1-271; 1956, c. 428; 1985, c. 522.)
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