{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-673.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-673.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-673.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-673.html"}],"law_id":79378,"edition_id":1,"section_id":79378,"structure_id":14362,"section_number":"13.1-673","catch_line":"Requirement for and duties of board of directors","history":"Code 1950, \u00a7 13.1-35; 1956, c. 428; 1985, c. 522; 1990, c. 337; 2005, c. 765; 2019, c. 734.","full_text":"A\n\nExcept as provided in an agreement authorized by § 13.1-671.1, each corporation shall have a board of directors.B\n\nAll corporate powers shall be exercised by or under the authority of the board of directors, and the business and affairs of the corporation managed under the direction, and subject to the oversight, of the board of directors, subject to any limitation set forth in the articles of incorporation permitted by subdivision B 3 of § 13.1-619 or in an agreement authorized under § 13.1-671.1.","order_by":null,"text":{"0":{"id":284165,"text":"Except as provided in an agreement authorized by § 13.1-671.1, each corporation shall have a board of directors.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":284166,"text":"All corporate powers shall be exercised by or under the authority of the board of directors, and the business and affairs of the corporation managed under the direction, and subject to the oversight, of the board of directors, subject to any limitation set forth in the articles of incorporation permitted by subdivision B 3 of § 13.1-619 or in an agreement authorized under § 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directors","url":"\/13.1-679\/","token":"13.1\/9\/9\/13.1-679","metadata":false},{"id":63645,"structure_id":14362,"section_number":"13.1-680","catch_line":"Removal of directors by shareholders","url":"\/13.1-680\/","token":"13.1\/9\/9\/13.1-680","metadata":false},{"id":85998,"structure_id":14362,"section_number":"13.1-681","catch_line":"Repealed","url":"\/13.1-681\/","token":"13.1\/9\/9\/13.1-681","metadata":false},{"id":69281,"structure_id":14362,"section_number":"13.1-681.1","catch_line":"Removal of directors by judicial proceeding","url":"\/13.1-681.1\/","token":"13.1\/9\/9\/13.1-681.1","metadata":false},{"id":74760,"structure_id":14362,"section_number":"13.1-682","catch_line":"Vacancy on board of directors","url":"\/13.1-682\/","token":"13.1\/9\/9\/13.1-682","metadata":false},{"id":56181,"structure_id":14362,"section_number":"13.1-683","catch_line":"Compensation of 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officers","url":"\/13.1-695\/","token":"13.1\/9\/9\/13.1-695","metadata":false}],"next_section":{"id":72148,"structure_id":14362,"section_number":"13.1-674","catch_line":"Qualifications for directors or for nominees for director","url":"\/13.1-674\/","token":"13.1\/9\/9\/13.1-674","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-673\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 5 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1956, chapter 428; in 1985, chapter 522; in 1990, chapter 337; in 2005, chapter 765<\/a>; in 2019, chapter 734<\/a>.<\/p>","references":[{"id":80537,"section_number":"13.1-689","catch_line":"Committees","order_by":null,"url":"\/13.1-689\/"},{"id":64259,"section_number":"13.1-745","catch_line":"Effect of dissolution","order_by":null,"url":"\/13.1-745\/"},{"id":71281,"section_number":"38.2-1329","catch_line":"Registration of insurers that are members of holding company system","order_by":null,"url":"\/38.2-1329\/"}],"refers_to":[{"id":66733,"section_number":"13.1-619","catch_line":"Articles of incorporation","order_by":null,"url":"\/13.1-619\/"},{"id":86810,"section_number":"13.1-671.1","catch_line":"Shareholder agreements","order_by":null,"url":"\/13.1-671.1\/"}],"permalink":{"id":151171,"object_type":"law","relational_id":79378,"identifier":"13.1-673","token":"13.1\/9\/9\/13.1-673","url":"\/13.1-673\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-673\/","token":"13.1\/9\/9\/13.1-673","dublin_core":{"Title":"Requirement for and duties of board of directors","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-673","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Except as provided in an agreement authorized by § 13.1-671.1<\/a>, each corporation<\/span> shall have a board of directors. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> All corporate powers shall be exercised by or under the authority of the board of directors, and the business and affairs of the corporation<\/span> managed under the direction, and subject to the oversight, of the board of directors, subject to any limitation set forth in the articles of incorporation<\/span> permitted by subdivision B 3 of § 13.1-619<\/a> or in an agreement authorized under § 13.1-671.1<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREQUIREMENT FOR AND DUTIES OF BOARD OF DIRECTORS (\u00a7 13.1-673)\n\nA. Except as provided in an agreement authorized by § 13.1-671.1, each\ncorporation shall have a board of directors.\n\nB. All corporate powers shall be exercised by or under the authority of the\nboard of directors, and the business and affairs of the corporation managed\nunder the direction, and subject to the oversight, of the board of directors,\nsubject to any limitation set forth in the articles of incorporation permitted\nby subdivision B 3 of § 13.1-619 or in an agreement authorized under §\n13.1-671.1.\n\nHISTORY: Code 1950, \u00a7 13.1-35; 1956, c. 428; 1985, c. 522; 1990, c. 337; 2005,\nc. 765; 2019, c. 734.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}