{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-982.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-982.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-982.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-982.html"}],"law_id":69245,"edition_id":1,"section_id":69245,"structure_id":14577,"section_number":"13.1-982","catch_line":"Definitions","history":"Code 1950, \u00a7 13.1-141; 1960, c. 80; 1985, c. 522; 1996, c. 77.","full_text":"As used in this chapter, unless a different meaning is required by the context, the following words and phrases shall have the following meanings:\n\t\t“Board of directors.” — The board of directors of a corporation created under this chapter.\n\t\t“Commission.” — The State Corporation Commission of Virginia.\n\t\t“Corporation.” — A Virginia industrial development corporation created under the provisions of this chapter.\n\t\t“Financial institution.” — Any bank, trust company, savings institution, industrial loan association or insurance company.\n\t\t“Loan limit.” — For any member, the maximum amount permitted to be outstanding at one time on loans made by such member to a corporation as determined under the provisions of this chapter.\n\t\t“Member.” — Any financial institution which shall undertake to lend money to a corporation created under this chapter, upon its call and in accordance with the provisions of this chapter.","order_by":null,"text":{"0":{"id":250529,"text":"As used in this chapter, unless a different meaning is required by the context, the following words and phrases shall have the following meanings:\n\t\t“Board of directors.” — The board of directors of a corporation created under this chapter.\n\t\t“Commission.” — The State Corporation Commission of Virginia.\n\t\t“Corporation.” — A Virginia industrial development corporation created under the provisions of this chapter.\n\t\t“Financial institution.” — Any bank, trust company, savings institution, industrial loan association or insurance company.\n\t\t“Loan limit.” — For any member, the maximum amount permitted to be outstanding at one time on loans made by such member to a corporation as determined under the provisions of this chapter.\n\t\t“Member.” — Any financial institution which shall undertake to lend money to a corporation created under this chapter, upon its call and in accordance with the provisions of this chapter.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":14577,"edition_id":1,"name":"Industrial Development Corporations","identifier":"11","label":"chapter","depth":2,"order_by":1,"parent_id":12744,"metadata":{},"date_created":"2026-06-26 03:48:44","date_modified":"2026-06-26 03:48:44","permalink":{"id":148277,"object_type":"structure","relational_id":14577,"identifier":"11","token":"13.1\/11","url":"\/13.1\/11\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12744,"edition_id":1,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":147493,"object_type":"structure","relational_id":12744,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":80825,"structure_id":14577,"section_number":"13.1-981","catch_line":"How chapter cited","url":"\/13.1-981\/","token":"13.1\/11\/13.1-981","metadata":false},{"id":69245,"structure_id":14577,"section_number":"13.1-982","catch_line":"Definitions","url":"\/13.1-982\/","token":"13.1\/11\/13.1-982","metadata":false},{"id":56063,"structure_id":14577,"section_number":"13.1-983","catch_line":"Incorporation","url":"\/13.1-983\/","token":"13.1\/11\/13.1-983","metadata":false},{"id":83258,"structure_id":14577,"section_number":"13.1-984","catch_line":"Corporate name","url":"\/13.1-984\/","token":"13.1\/11\/13.1-984","metadata":false},{"id":68339,"structure_id":14577,"section_number":"13.1-985","catch_line":"Governor to approve articles of incorporation","url":"\/13.1-985\/","token":"13.1\/11\/13.1-985","metadata":false},{"id":65825,"structure_id":14577,"section_number":"13.1-986","catch_line":"How funds may be derived","url":"\/13.1-986\/","token":"13.1\/11\/13.1-986","metadata":false},{"id":60972,"structure_id":14577,"section_number":"13.1-987","catch_line":"Restrictions on powers of corporation","url":"\/13.1-987\/","token":"13.1\/11\/13.1-987","metadata":false},{"id":58421,"structure_id":14577,"section_number":"13.1-988","catch_line":"Acquisition, transfer, etc., of securities and shares of corporation","url":"\/13.1-988\/","token":"13.1\/11\/13.1-988","metadata":false},{"id":80429,"structure_id":14577,"section_number":"13.1-989","catch_line":"Membership in corporation; loans from members","url":"\/13.1-989\/","token":"13.1\/11\/13.1-989","metadata":false},{"id":85284,"structure_id":14577,"section_number":"13.1-990","catch_line":"Shares and shareholders","url":"\/13.1-990\/","token":"13.1\/11\/13.1-990","metadata":false},{"id":72676,"structure_id":14577,"section_number":"13.1-991","catch_line":"Directors","url":"\/13.1-991\/","token":"13.1\/11\/13.1-991","metadata":false},{"id":72431,"structure_id":14577,"section_number":"13.1-992","catch_line":"Executive committee","url":"\/13.1-992\/","token":"13.1\/11\/13.1-992","metadata":false},{"id":77569,"structure_id":14577,"section_number":"13.1-993","catch_line":"Restrictions on amendments to articles of incorporation","url":"\/13.1-993\/","token":"13.1\/11\/13.1-993","metadata":false},{"id":69071,"structure_id":14577,"section_number":"13.1-994","catch_line":"Earned surplus","url":"\/13.1-994\/","token":"13.1\/11\/13.1-994","metadata":false},{"id":74233,"structure_id":14577,"section_number":"13.1-995","catch_line":"Members to have rights of shareholders","url":"\/13.1-995\/","token":"13.1\/11\/13.1-995","metadata":false},{"id":84215,"structure_id":14577,"section_number":"13.1-996","catch_line":"Corporation not authorized to receive money on deposit; deposit of funds of corporation","url":"\/13.1-996\/","token":"13.1\/11\/13.1-996","metadata":false},{"id":71494,"structure_id":14577,"section_number":"13.1-997","catch_line":"Books and records","url":"\/13.1-997\/","token":"13.1\/11\/13.1-997","metadata":false},{"id":80620,"structure_id":14577,"section_number":"13.1-998","catch_line":"Credit of Commonwealth not pledged","url":"\/13.1-998\/","token":"13.1\/11\/13.1-998","metadata":false}],"previous_section":{"id":80825,"structure_id":14577,"section_number":"13.1-981","catch_line":"How chapter cited","url":"\/13.1-981\/","token":"13.1\/11\/13.1-981","metadata":false},"next_section":{"id":56063,"structure_id":14577,"section_number":"13.1-983","catch_line":"Incorporation","url":"\/13.1-983\/","token":"13.1\/11\/13.1-983","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-982\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 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 1960, chapter 80; in 1985, chapter 522; in 1996, chapter 77<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":148283,"object_type":"law","relational_id":69245,"identifier":"13.1-982","token":"13.1\/11\/13.1-982","url":"\/13.1-982\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-982\/","token":"13.1\/11\/13.1-982","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-982","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

As used in this chapter, unless a different meaning is required by the context, the following words and phrases shall have the following meanings:\n\t\t“Board of directors.” — The board of directors of a corporation created under this chapter.\n\t\t“Commission.” — The State Corporation Commission of Virginia.\n\t\t“Corporation.” — A Virginia industrial development corporation created under the provisions of this chapter.\n\t\t“Financial institution.” — Any bank, trust company, savings institution, industrial loan association or insurance company.\n\t\t“Loan limit.” — For any member, the maximum amount permitted to be outstanding at one time on loans made by such member to a corporation as determined under the provisions of this chapter.\n\t\t“Member.” — Any financial institution which shall undertake to lend money to a corporation created under this chapter, upon its call and in accordance with the provisions of this chapter.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 13.1-982)\n\nAs used in this chapter, unless a different meaning is required by the context,\nthe following words and phrases shall have the following meanings:\n\t\t“Board of directors.” — The board of directors of a\ncorporation created under this chapter.\n\t\t“Commission.” — The State Corporation Commission of\nVirginia.\n\t\t“Corporation.” — A Virginia industrial development\ncorporation created under the provisions of this chapter.\n\t\t“Financial institution.” — Any bank, trust company, savings\ninstitution, industrial loan association or insurance company.\n\t\t“Loan limit.” — For any member, the maximum amount permitted\nto be outstanding at one time on loans made by such member to a corporation as\ndetermined under the provisions of this chapter.\n\t\t“Member.” — Any financial institution which shall undertake\nto lend money to a corporation created under this chapter, upon its call and in\naccordance with the provisions of this chapter.\n\nHISTORY: Code 1950, \u00a7 13.1-141; 1960, c. 80; 1985, c. 522; 1996, c. 77.","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}}