{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/56-539.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/56-539.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/56-539.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/56-539.html"}],"law_id":64175,"edition_id":1,"section_id":64175,"structure_id":14616,"section_number":"56-539","catch_line":"Certificate of authority","history":"1988, c. 649; 1991, c. 272; 2021, Sp. Sess. I, cc. 349, 350.","full_text":"A\n\nAny person may apply to the Commission for a certificate of authority to construct or operate a roadway, or to extend or enlarge a roadway for which a certificate has been issued under this chapter. If the Commission determines in writing, after notice and opportunity for a hearing, that the application is complete, that approval of the application is in the public interest, and that the applicant has complied with the provisions of this chapter, it shall approve the application, with or without modification, unless it receives a duly adopted resolution of the governing body of any jurisdiction through which the roadway passes, which requests that the Commission deny the application, in which case the Commission shall do so. If the application is approved the operator shall construct the roadway. Upon completion of construction and the opening of the roadway to the public, the roadway shall be kept at all times open for use by the public and made accessible to the public, upon payment of the toll established by the operator; provided that the roadway may be partially or completely closed, temporarily, with the concurrence of the Department, to protect the public safety or for reasonable construction or maintenance procedures. The certificate of authority may be transferred with the approval of the Commission if the Commission finds the transfer to be in the public interest after consultation with the Board and notice to the governing body of any jurisdiction through which the roadway passes.B\n\nWhen applying to the Commission for a transfer, extension, or amendment of a certificate of authority, the applicant shall provide the Commission with sufficient information to demonstrate the financial fitness of the entity applying to operate the roadway or, in the case of a transfer, the transferee, including:1\n\nThe operating entity’s or transferee’s balance sheet and income statement for the most recent fiscal year and any published financial information, including the most recent federal Securities and Exchange Commission Forms 10-K and 10-Q. If such information is not available, the applicant shall submit other financial information demonstrating the financial fitness of the proposed operating entity or transferee or any other entity that provides financial resources to the operating entity or transferee.2\n\nProof of a minimum bond rating of “BBB-” or higher or an equivalent rating by a major rating agency, or a guarantee with a guarantor possessing a credit rating of “BBB-” or higher from a major rating agency. If such proof is not available, the applicant shall submit similar documentation to what would be submitted to a major credit rating agency to demonstrate the operating entity’s or transferee’s creditworthiness.\n\t\t\t\tThe Commission shall not approve a transfer, extension, or amendment of a certificate of authority unless the Commission receives such information and determines that the proposed operating entity or transferee is financially fit to do so.","order_by":null,"text":{"0":{"id":233623,"text":"Any person may apply to the Commission for a certificate of authority to construct or operate a roadway, or to extend or enlarge a roadway for which a certificate has been issued under this chapter. If the Commission determines in writing, after notice and opportunity for a hearing, that the application is complete, that approval of the application is in the public interest, and that the applicant has complied with the provisions of this chapter, it shall approve the application, with or without modification, unless it receives a duly adopted resolution of the governing body of any jurisdiction through which the roadway passes, which requests that the Commission deny the application, in which case the Commission shall do so. If the application is approved the operator shall construct the roadway. Upon completion of construction and the opening of the roadway to the public, the roadway shall be kept at all times open for use by the public and made accessible to the public, upon payment of the toll established by the operator; provided that the roadway may be partially or completely closed, temporarily, with the concurrence of the Department, to protect the public safety or for reasonable construction or maintenance procedures. The certificate of authority may be transferred with the approval of the Commission if the Commission finds the transfer to be in the public interest after consultation with the Board and notice to the governing body of any jurisdiction through which the roadway passes.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":233624,"text":"When applying to the Commission for a transfer, extension, or amendment of a certificate of authority, the applicant shall provide the Commission with sufficient information to demonstrate the financial fitness of the entity applying to operate the roadway or, in the case of a transfer, the transferee, including:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":233625,"text":"The operating entity’s or transferee’s balance sheet and income statement for the most recent fiscal year and any published financial information, including the most recent federal Securities and Exchange Commission Forms 10-K and 10-Q. If such information is not available, the applicant shall submit other financial information demonstrating the financial fitness of the proposed operating entity or transferee or any other entity that provides financial resources to the operating entity or transferee.","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":233626,"text":"Proof of a minimum bond rating of “BBB-” or higher or an equivalent rating by a major rating agency, or a guarantee with a guarantor possessing a credit rating of “BBB-” or higher from a major rating agency. If such proof is not available, the applicant shall submit similar documentation to what would be submitted to a major credit rating agency to demonstrate the operating entity’s or transferee’s creditworthiness.\n\t\t\t\tThe Commission shall not approve a transfer, extension, or amendment of a certificate of authority unless the Commission receives such information and determines that the proposed operating entity or transferee is financially fit to do so.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1"}},"ancestry":[{"id":14616,"edition_id":1,"name":"Virginia Highway Corporation Act of 1988","identifier":"20","label":"chapter","depth":2,"order_by":1,"parent_id":12881,"metadata":{},"date_created":"2026-06-26 03:48:55","date_modified":"2026-06-26 03:48:55","permalink":{"id":250407,"object_type":"structure","relational_id":14616,"identifier":"20","token":"56\/20","url":"\/56\/20\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12881,"edition_id":1,"name":"Public Service Companies","identifier":"56","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:58","date_modified":"2026-06-26 03:43:58","permalink":{"id":248473,"object_type":"structure","relational_id":12881,"identifier":"56","token":"56","url":"\/56\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":70009,"structure_id":14616,"section_number":"56-535","catch_line":"Title","url":"\/56-535\/","token":"56\/20\/56-535","metadata":false},{"id":75006,"structure_id":14616,"section_number":"56-536","catch_line":"Definitions","url":"\/56-536\/","token":"56\/20\/56-536","metadata":false},{"id":82021,"structure_id":14616,"section_number":"56-537","catch_line":"Construction of highways and use of public funds in the public interest","url":"\/56-537\/","token":"56\/20\/56-537","metadata":false},{"id":63437,"structure_id":14616,"section_number":"56-538","catch_line":"Prerequisite for construction and operation","url":"\/56-538\/","token":"56\/20\/56-538","metadata":false},{"id":64175,"structure_id":14616,"section_number":"56-539","catch_line":"Certificate of authority","url":"\/56-539\/","token":"56\/20\/56-539","metadata":false},{"id":65271,"structure_id":14616,"section_number":"56-540","catch_line":"Application","url":"\/56-540\/","token":"56\/20\/56-540","metadata":false},{"id":64565,"structure_id":14616,"section_number":"56-541","catch_line":"Eminent domain","url":"\/56-541\/","token":"56\/20\/56-541","metadata":false},{"id":64762,"structure_id":14616,"section_number":"56-542","catch_line":"Powers of the Commission","url":"\/56-542\/","token":"56\/20\/56-542","metadata":false},{"id":85165,"structure_id":14616,"section_number":"56-543","catch_line":"Powers and duties of roadway operator","url":"\/56-543\/","token":"56\/20\/56-543","metadata":false},{"id":58147,"structure_id":14616,"section_number":"56-544","catch_line":"Board approval; inspection agreement with Department","url":"\/56-544\/","token":"56\/20\/56-544","metadata":false},{"id":72530,"structure_id":14616,"section_number":"56-545","catch_line":"Insurance; sovereign immunity","url":"\/56-545\/","token":"56\/20\/56-545","metadata":false},{"id":56152,"structure_id":14616,"section_number":"56-546","catch_line":"Local approvals","url":"\/56-546\/","token":"56\/20\/56-546","metadata":false},{"id":78880,"structure_id":14616,"section_number":"56-547","catch_line":"Utility crossings","url":"\/56-547\/","token":"56\/20\/56-547","metadata":false},{"id":59529,"structure_id":14616,"section_number":"56-548","catch_line":"Highway and roadway crossings","url":"\/56-548\/","token":"56\/20\/56-548","metadata":false},{"id":68873,"structure_id":14616,"section_number":"56-549","catch_line":"Default","url":"\/56-549\/","token":"56\/20\/56-549","metadata":false},{"id":59033,"structure_id":14616,"section_number":"56-550","catch_line":"Police powers; violations of law","url":"\/56-550\/","token":"56\/20\/56-550","metadata":false},{"id":71856,"structure_id":14616,"section_number":"56-551","catch_line":"Termination of certificate; dedication of assets","url":"\/56-551\/","token":"56\/20\/56-551","metadata":false},{"id":62323,"structure_id":14616,"section_number":"56-552","catch_line":"Improvement Fund","url":"\/56-552\/","token":"56\/20\/56-552","metadata":false}],"previous_section":{"id":63437,"structure_id":14616,"section_number":"56-538","catch_line":"Prerequisite for construction and operation","url":"\/56-538\/","token":"56\/20\/56-538","metadata":false},"next_section":{"id":65271,"structure_id":14616,"section_number":"56-540","catch_line":"Application","url":"\/56-540\/","token":"56\/20\/56-540","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-539\/","history_text":"

This law was first created in 1988. The record of its establishment is cataloged in chapter 649 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1988 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. 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. That modification is as follows: in 1991, chapter 272.<\/p>","references":false,"refers_to":false,"permalink":{"id":250425,"object_type":"law","relational_id":64175,"identifier":"56-539","token":"56\/20\/56-539","url":"\/56-539\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/56-539\/","token":"56\/20\/56-539","dublin_core":{"Title":"Certificate of authority","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-539","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Any person<\/span> may apply to the Commission<\/span> for a certificate<\/span> of authority to construct or operate a roadway<\/span>, or to extend or enlarge a roadway<\/span> for which a certificate<\/span> has been issued under this chapter. If the Commission<\/span> determines in writing, after notice and opportunity for a hearing<\/span>, that the application is complete, that approval of the application is in the public interest, and that the applicant has complied with the provisions of this chapter, it shall approve the application, with or without modification, unless it receives a duly adopted resolution of the governing body of any jurisdiction<\/span> through which the roadway<\/span> passes, which requests that the Commission<\/span> deny the application, in which case the Commission<\/span> shall do so. If the application is approved the operator<\/span> shall construct the roadway<\/span>. Upon completion of construction and the opening of the roadway<\/span> to the public, the roadway<\/span> shall be kept at all times open for use by the public and made accessible to the public, upon payment of the toll<\/span> established by the operator<\/span>; provided that the roadway<\/span> may be partially or completely closed, temporarily, with the concurrence of the Department<\/span>, to protect the public safety or for reasonable construction or maintenance procedures. The certificate<\/span> of authority may be transferred with the approval of the Commission<\/span> if the Commission<\/span> finds the transfer to be in the public interest after consultation with the Board<\/span> and notice to the governing body of any jurisdiction<\/span> through which the roadway<\/span> passes. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> When applying to the Commission<\/span> for a transfer, extension, or amendment of a certificate<\/span> of authority, the applicant shall provide the Commission<\/span> with sufficient information to demonstrate the financial fitness of the entity applying to operate the roadway<\/span> or, in the case of a transfer, the transferee, including: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The operating entity’s or transferee’s balance sheet and income statement for the most recent fiscal year and any published financial information, including the most recent federal Securities and Exchange Commission<\/span> Forms 10-K and 10-Q. If such information is not available, the applicant shall submit other financial information demonstrating the financial fitness of the proposed operating entity or transferee or any other entity that provides financial resources to the operating entity or transferee. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Proof of a minimum bond<\/span> rating of “BBB-” or higher or an equivalent rating by a major rating agency, or a guarantee with a guarantor possessing a credit rating of “BBB-” or higher from a major rating agency. If such proof is not available, the applicant shall submit similar documentation to what would be submitted to a major credit rating agency to demonstrate the operating entity’s or transferee’s creditworthiness.\n\t\t\t\tThe Commission<\/span> shall not approve a transfer, extension, or amendment of a certificate<\/span> of authority unless the Commission<\/span> receives such information and determines that the proposed operating entity or transferee is financially fit to do so. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCERTIFICATE OF AUTHORITY (\u00a7 56-539)\n\nA. Any person may apply to the Commission for a certificate of authority to\nconstruct or operate a roadway, or to extend or enlarge a roadway for which a\ncertificate has been issued under this chapter. If the Commission determines in\nwriting, after notice and opportunity for a hearing, that the application is\ncomplete, that approval of the application is in the public interest, and that\nthe applicant has complied with the provisions of this chapter, it shall approve\nthe application, with or without modification, unless it receives a duly adopted\nresolution of the governing body of any jurisdiction through which the roadway\npasses, which requests that the Commission deny the application, in which case\nthe Commission shall do so. If the application is approved the operator shall\nconstruct the roadway. Upon completion of construction and the opening of the\nroadway to the public, the roadway shall be kept at all times open for use by\nthe public and made accessible to the public, upon payment of the toll\nestablished by the operator; provided that the roadway may be partially or\ncompletely closed, temporarily, with the concurrence of the Department, to\nprotect the public safety or for reasonable construction or maintenance\nprocedures. The certificate of authority may be transferred with the approval of\nthe Commission if the Commission finds the transfer to be in the public interest\nafter consultation with the Board and notice to the governing body of any\njurisdiction through which the roadway passes.\n\nB. When applying to the Commission for a transfer, extension, or amendment of a\ncertificate of authority, the applicant shall provide the Commission with\nsufficient information to demonstrate the financial fitness of the entity\napplying to operate the roadway or, in the case of a transfer, the transferee,\nincluding:\n\n 1. The operating entity’s or transferee’s balance sheet and income\n statement for the most recent fiscal year and any published financial\n information, including the most recent federal Securities and Exchange\n Commission Forms 10-K and 10-Q. If such information is not available, the\n applicant shall submit other financial information demonstrating the financial\n fitness of the proposed operating entity or transferee or any other entity\n that provides financial resources to the operating entity or transferee.\n\n 2. Proof of a minimum bond rating of “BBB-” or higher or an\n equivalent rating by a major rating agency, or a guarantee with a guarantor\n possessing a credit rating of “BBB-” or higher from a major rating\n agency. If such proof is not available, the applicant shall submit similar\n documentation to what would be submitted to a major credit rating agency to\n demonstrate the operating entity’s or transferee’s\n creditworthiness.\n \t\t\t\tThe Commission shall not approve a transfer, extension, or amendment of a\n certificate of authority unless the Commission receives such information and\n determines that the proposed operating entity or transferee is financially fit\n to do so.\n\nHISTORY: 1988, c. 649; 1991, c. 272; 2021, Sp. Sess. I, cc. 349, 350.","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}}