Va. Code Ann. § 13.1-673

Requirement for and duties of board of directors

Known as the Virginia Stock Corporation Act

The act spans §§ 13.1-601 to 13.1-792 (265 sections).

Applied in 5 court decisions — leading case Schnelling v. Crawford (In Re James River Coal Co.) (2007)

Most recently applied in White Coat Waste Project v. Greater Richmond Transit Co. (May 2022)

Code 1950, § 13.1-35; 1956, c. 428; 1985, c. 522; 1990, c. 337; 2005, c. 765; 2019, c. 734.

How often courts cite this section

citing decisions per year

Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.

A. Except as provided in an agreement authorized by § 13.1-671.1, each corporation shall have a board of directors.

B. All corporate powers shall be exercised by or under the authority of the board of directors, and the business and affairs of the corporation managed under the direction, and subject to the oversight, of the board of directors, subject to any limitation set forth in the articles of incorporation permitted by subdivision B 3 of § 13.1-619 or in an agreement authorized under § 13.1-671.1.

Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.