2016 Code of Virginia
Title 13.1 - Corporations
Chapter 9 - Virginia Stock Corporation Act

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 Repealed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 Repealed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

• § 13.1-776. Definitions
• § 13.1-777. Institution of proceeding to determine shareholders

Article 20. Transition Provisions

• § 13.1-778. Application to existing corporations
• § 13.1-779. Savings provision
• § 13.1-780. Repealed

Article 21. Miscellaneous Provisions

• § 13.1-781. Property title records

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