Virginia Code 56-231.48: Applicability of other laws.
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All of the provisions of the Virginia Stock Corporation Act, Chapter 9 of Title 13.1, and the Virginia Nonstock Corporation Act (§ 13.1-801 et seq.), insofar as not inconsistent with this article, are hereby made applicable to stock and nonstock cooperatives, respectively, when the articles of incorporation are filed in the office of the Commission; provided, however, that subsections D through G of § 13.1-620 and subdivision 1 of § 13.1-825 shall not apply to any affiliate or subsidiary of a cooperative. A cooperative must have a registered office and a registered agent, pursuant to § 13.1-634 or § 13.1-833, as appropriate.
Terms Used In Virginia Code 56-231.48
- Affiliate: means a separate affiliated or subsidiary corporation or other separate legal entity. See Virginia Code 56-231.38
- Commission: means the State Corporation Commission of Virginia. See Virginia Code 56-231.38
- Cooperative: means a power supply cooperative formed under the former Power Supply Cooperatives Act (§ 56-231. See Virginia Code 56-231.38
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
1999, c. 874.