{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/56-551.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/56-551.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/56-551.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/56-551.html"}],"law_id":71856,"edition_id":1,"section_id":71856,"structure_id":14616,"section_number":"56-551","catch_line":"Termination of certificate; dedication of assets","history":"1988, c. 649; 1991, c. 272.","full_text":"Within ninety days of the completion and closing of the original permanent financing, the operator shall provide full details of the financing, including the terms of all bonds, to the Commission; and shall certify the term of the original permanent financing and its termination date. The Commission may require that the operator provide copies of any relevant documents, and shall review the financing and determine the date of termination of the original permanent financing. After establishing this date, the Commission shall enter an order terminating the operator’s authority pursuant to the certificate of authority on a date which shall be ten years from the end of the term of the original permanent financing. At the request of the operator or the Department, or on its own initiative, the Commission may revise its order to modify the date for termination of the certificate of authority in order to take into account any refinancing of the original permanent financing, where the refinancing or modification is in the public interest, or any refinancing for the purpose of expansion, or early termination of the original permanent financing. Upon the termination of the certificate of authority, the authority and duties of the operator under this chapter shall cease, and the highway assets and improvements of the operator shall be dedicated to the Commonwealth for highway purposes.","order_by":null,"text":{"0":{"id":258886,"text":"Within ninety days of the completion and closing of the original permanent financing, the operator shall provide full details of the financing, including the terms of all bonds, to the Commission; and shall certify the term of the original permanent financing and its termination date. The Commission may require that the operator provide copies of any relevant documents, and shall review the financing and determine the date of termination of the original permanent financing. After establishing this date, the Commission shall enter an order terminating the operator’s authority pursuant to the certificate of authority on a date which shall be ten years from the end of the term of the original permanent financing. At the request of the operator or the Department, or on its own initiative, the Commission may revise its order to modify the date for termination of the certificate of authority in order to take into account any refinancing of the original permanent financing, where the refinancing or modification is in the public interest, or any refinancing for the purpose of expansion, or early termination of the original permanent financing. Upon the termination of the certificate of authority, the authority and duties of the operator under this chapter shall cease, and the highway assets and improvements of the operator shall be dedicated to the Commonwealth for highway purposes.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"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":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},"next_section":{"id":62323,"structure_id":14616,"section_number":"56-552","catch_line":"Improvement Fund","url":"\/56-552\/","token":"56\/20\/56-552","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-551\/","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":250473,"object_type":"law","relational_id":71856,"identifier":"56-551","token":"56\/20\/56-551","url":"\/56-551\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/56-551\/","token":"56\/20\/56-551","dublin_core":{"Title":"Termination of certificate; dedication of assets","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-551","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Within ninety days of the completion and closing of the original permanent financing, the operator<\/span> shall provide full details of the financing, including the terms of all bonds<\/span>, to the Commission<\/span>; and shall certify the term of the original permanent financing and its termination date. The Commission<\/span> may require that the operator<\/span> provide copies of any relevant documents, and shall review the financing and determine the date of termination of the original permanent financing. After establishing this date, the Commission<\/span> shall enter an order<\/span> terminating the operator<\/span>’s authority pursuant to the certificate<\/span> of authority on a date which shall be ten years from the end of the term of the original permanent financing. At the request of the operator<\/span> or the Department<\/span>, or on its own initiative, the Commission<\/span> may revise its order<\/span> to modify the date for termination of the certificate<\/span> of authority in order<\/span> to take into account any refinancing of the original permanent financing, where the refinancing or modification is in the public interest, or any refinancing for the purpose of expansion, or early termination of the original permanent financing. Upon the termination of the certificate<\/span> of authority, the authority and duties of the operator<\/span> under this chapter shall cease, and the highway<\/span> assets<\/span> and improvements of the operator<\/span> shall be dedicated to the Commonwealth for highway<\/span> purposes.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nTERMINATION OF CERTIFICATE; DEDICATION OF ASSETS (\u00a7 56-551)\n\nWithin ninety days of the completion and closing of the original permanent\nfinancing, the operator shall provide full details of the financing, including\nthe terms of all bonds, to the Commission; and shall certify the term of the\noriginal permanent financing and its termination date. The Commission may\nrequire that the operator provide copies of any relevant documents, and shall\nreview the financing and determine the date of termination of the original\npermanent financing. After establishing this date, the Commission shall enter an\norder terminating the operator’s authority pursuant to the certificate of\nauthority on a date which shall be ten years from the end of the term of the\noriginal permanent financing. At the request of the operator or the Department,\nor on its own initiative, the Commission may revise its order to modify the date\nfor termination of the certificate of authority in order to take into account\nany refinancing of the original permanent financing, where the refinancing or\nmodification is in the public interest, or any refinancing for the purpose of\nexpansion, or early termination of the original permanent financing. Upon the\ntermination of the certificate of authority, the authority and duties of the\noperator under this chapter shall cease, and the highway assets and improvements\nof the operator shall be dedicated to the Commonwealth for highway purposes.\n\nHISTORY: 1988, c. 649; 1991, c. 272.","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}}