Purposes
Known as the Virginia Nonstock Corporation Act
The act spans §§ 13.1-801 to 13.1-946 (183 sections).
Applied in 1 court decision — leading case 203 F. Supp. 2d 624 - Falwell v. Miller (2002)
Most recently applied in 203 F. Supp. 2d 624 - Falwell v. Miller (April 2002)
Code 1950, § 13.1-204; 1956, c. 428; 1958, c. 564; 1960, c. 296; 1971, Ex
Every corporation incorporated under this Act has the purpose of engaging in any lawful activity, unless:
1. A statute requires the corporation to issue shares or one of the purposes of the corporation is to conduct the business of a public service company other than a sewer company; or
2. A more limited purpose is (i) set forth in the articles of incorporation or (ii) required to be set forth in the articles of incorporation by any other law of the Commonwealth.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.