Virginia Code 56-60: Application for order authorizing issuance of securities or assumption of liabilities
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An application for an order authorizing the issue of such stocks and stock certificates or other evidences of interest or ownership, and bonds, notes or other evidences of indebtedness for any purpose described in § 56-58 or the assumption of the obligations or liabilities of any other person, firm, association or corporation as provided in § 56-59 shall be made to the Commission stating the amount, character, terms and purposes of the stocks, stock certificates or other evidences of interest or ownership, and bonds, notes and other evidences of indebtedness to be issued or assumed, and stating such other pertinent details as the Commission may require.
Terms Used In Virginia Code 56-60
- Commission: means the State Corporation Commission. See Virginia Code 56-1
- 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.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Person: includes individuals, partnerships, limited liability companies, and corporations. See Virginia Code 56-1
1934, p. 222; Michie Code 1942, § 4073(5).