§ 13.1-761. Effect of certificate of authority
A. A certificate of authority authorizes the foreign corporation to which it is issued to transact business in this Commonwealth subject, however, to the right of the Commonwealth to revoke the certificate as provided in this Act.
B. A foreign corporation holding a valid certificate of authority shall have no greater rights and privileges than a domestic corporation. The certificate of authority shall not be deemed to authorize it to exercise any of its corporate powers or purposes that a foreign corporation is forbidden by law to exercise in this Commonwealth.
C. This chapter does not authorize this Commonwealth to regulate the organization or internal affairs of a foreign corporation authorized to transact business in this Commonwealth.
(Code 1950, §§ 13.1-102, 13.1-103, 13.1-108; 1956, c. 428; 1985, c. 522.)
Sections: Previous 13.1-754 13.1-755 13.1-756 13.1-757 13.1-758 13.1-759 13.1-760 13.1-761 13.1-762 13.1-763 13.1-764 13.1-765 13.1-766 13.1-766.1 13.1-766.2 NextLast modified: April 2, 2009