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2023 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 document
- § 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 1.1. Ratification of Defective Corporate Actions
- § 13.1-614.1. Definitions
- § 13.1-614.2. Defective corporate actions
- § 13.1-614.3. Ratification of defective corporate actions
- § 13.1-614.4. Action of ratification
- § 13.1-614.5. Notice
- § 13.1-614.6. Effect of ratification
- § 13.1-614.7. Filings
- § 13.1-614.8. Commission proceedings regarding validity of corporate actions
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 Repealed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. Lack of power to act
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 Repealed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 of shareholders and others
- § 13.1-645. Share dividends
- § 13.1-646. Share rights, options, warrants, and other awards
- § 13.1-647. Form and content of certificates evidencing shares
- § 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 for meeting
- § 13.1-660.1. Conduct of the meeting
- § 13.1-660.2. Remote participation in shareholders' 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 intermediaries and nominees
- § 13.1-664.1. Inspectors of election
- § 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. Modifying quorum or voting requirements
- § 13.1-669. Voting for directors; cumulative voting
- § 13.1-669.1. Judicial determination of corporate offices 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 a custodian or receiver for a public corporation
- § 13.1-672.7. Shareholder defined
Article 9. Directors and Officers
- § 13.1-673. Requirement for and duties of board of directors
- § 13.1-674. Qualifications for directors or for nominees for director
- § 13.1-675. Number and election of directors
- § 13.1-676. Election of directors by certain classes or series of shares
- § 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
- § 13.1-681.1. Removal of directors by judicial proceeding
- § 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 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 advance, reimbursement, or indemnification
- § 13.1-701. Determination and authorization of indemnification
- § 13.1-702. Advance for expenses and indemnification for 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 the board of directors
- § 13.1-707. Amendment of articles of incorporation by the board of directors and shareholders
- § 13.1-708. Voting on amendments by voting groups
- § 13.1-709. Amendment of articles of incorporation by incorporators
- § 13.1-710. Articles of amendment
- § 13.1-711. Restated articles of incorporation
- § 13.1-712. Repealed
- § 13.1-712.1. Abandonment of amendment or restatement of articles of incorporation
- § 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 the board of 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
Article 12.1. Domestication
- § 13.1-721.1. Abandonment of a merger or share exchange
- § 13.1-722. Repealed
- § 13.1-722.1:1. Definitions
- § 13.1-722.2. Domestication
- § 13.1-722.3. Action on a plan of domestication of a domestic corporation
- § 13.1-722.4. Repealed
- § 13.1-722.5. Articles of domestication; effectiveness
- § 13.1-722.6. Amendment of plan of domestication; abandonment
- § 13.1-722.7. Repealed
- § 13.1-722.7:1. Effect of domestication
Article 12.2. Conversion
- § 13.1-722.8. Definitions
- § 13.1-722.9. Conversion
- § 13.1-722.10. Plan of conversion
- § 13.1-722.11. Action on plan of conversion
- § 13.1-722.12. Articles of conversion; effectiveness
- § 13.1-722.12:1. Amendment of plan of conversion; abandonment
- § 13.1-722.13. Effect of conversion
- § 13.1-722.14. Repealed
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. 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
- § 13.1-768.1. Repealed
- § 13.1-769. Involuntary revocation of certificate of authority
- § 13.1-769.1. Reinstatement of a foreign corporation's certificate of authority that 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
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