§ 13.1-712.1 Abandonment of amendment or restatement of articles of incorporation
A. After an amendment or restatement of the articles of incorporation has been adopted and approved as required by this article, and at any time before the certificate of amendment or restatement has become effective, the amendment or restatement of the articles of incorporation may be abandoned by the corporation without action by its shareholders in the manner determined by the board of directors.
B. If articles of amendment or restatement of the articles of incorporation are abandoned after they have been filed with the Commission but before the certificate of amendment or restatement of the articles of incorporation has become effective, a statement of abandonment shall be signed by the corporation and delivered to the Commission for filing prior to the effective time and date of the certificate of amendment or restatement of the articles of incorporation. If the Commission finds that the statement of abandonment complies with the requirements of law, it shall issue a certificate of abandonment, effective as of the date and time the statement of abandonment was received by the Commission, and the amendment or restatement of the articles of incorporation shall be deemed abandoned and shall not become effective.
2. The date on which the articles of amendment or restatement of the articles of incorporation were filed with the Commission;
3. The date and time on which the Commission’s certificate of amendment or restatement becomes effective; and
4. A statement that the amendment or restatement of the articles of incorporation is being abandoned in accordance with this section.
History
This law was first created in 2019. The record of its establishment is cataloged in chapter 734 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2020, chapter 1226.
2019, c. 734; 2020, c. 1226.