No amendment to the articles of incorporation shall be made which increases the obligation of a member to make loans to the corporation or which makes any change in the principal amount, interest rate, maturity date, or in the security or credit position of any outstanding loan made by a member to the corporation or which affects the right of a member to withdraw from membership or the voting rights of such member, without the consent of each member who would be affected by such amendment.
Va. Code Ann. § 13.1-993
Restrictions on amendments to articles of incorporation
Known as the Virginia Industrial Development Corporation Act
The act spans §§ 13–13 (18 sections).
Code 1950, § 13.1-150; 1960, c. 80; 1985, c. 522.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.