§ 13.1-825. Purposes
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.
(Code 1950, § 13.1-204; 1956, c. 428; 1958, c. 564; 1960, c. 296; 1971, Ex. Sess., c. 98; 1985, c. 522; 2007, c. 925.)
Sections: Previous 13.1-818 13.1-819 13.1-820 13.1-821 13.1-822 13.1-823 13.1-824 13.1-825 13.1-826 13.1-827 13.1-828 13.1-829 13.1-830 13.1-831 13.1-832 NextLast modified: April 2, 2009