There is a newer version of the Code of Virginia
2014 Virginia Code
Title 13.1 - Corporations
Chapter 1. STOCK CORPORATIONS [Repealed]Chapter 2. NONSTOCK CORPORATIONS [Repealed]
Chapter 3. COOPERATIVE ASSOCIATIONS
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. 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 Repealed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
Chapter 4.1. UNIFORM ACT FOR THE SIMPLIFICATION OF FIDUCIARY SECURITY TRANSFERS. [Repealed]
Chapter 4.2. SECURITIES REGISTERED IN JOINT NAMES
- § 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. Severability clause
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
Chapter 7. PROFESSIONAL CORPORATIONS
- § 13.1-542. 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 review of elections and other matters
- § 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
- § 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. Revocation of certificate of authority by Commission
- § 13.1-769.1. Reentry of a foreign corporation whose certificate of authority has been surrendered 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
- § 13.1-778. Application to existing corporations
- § 13.1-779. Savings provision
- § 13.1-780. Not Set Out
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. Revocation of certificate of authority by Commission
- § 13.1-931.1. Reentry of foreign corporation whose certificate of authority has been surrendered 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. Not Set Out
- § 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 amendment
- § 13.1-943. Fees
- § 13.1-944. Controlling law and continuity
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. Not Set Out
- § 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
Disclaimer: These codes may not be the most recent version. Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.