{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/56-65.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/56-65.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/56-65.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/56-65.1.html"}],"law_id":77168,"edition_id":1,"section_id":77168,"structure_id":13407,"section_number":"56-65.1","catch_line":"Short-term indebtedness","history":"1952, c. 148; 1976, c. 408; 1987, c. 479; 1995, c. 137.","full_text":"Notwithstanding the provisions of \u00a7\u00a7 56-57 and 56-65, the provisions of this chapter shall apply to the issuance of any note or notes by any public service company which has total capitalization, including securities having a maturity date of less than twelve months from the time of issue, of five million dollars or more, unless such note or notes together with all other outstanding notes and drafts of a maturity of less than twelve months on which such utility is primarily or secondarily liable, aggregates not more than twelve percent of the total capitalization of such utility.","order_by":null,"text":{"0":{"id":276805,"text":"Notwithstanding the provisions of \u00a7\u00a7 56-57 and 56-65, the provisions of this chapter shall apply to the issuance of any note or notes by any public service company which has total capitalization, including securities having a maturity date of less than twelve months from the time of issue, of five million dollars or more, unless such note or notes together with all other outstanding notes and drafts of a maturity of less than twelve months on which such utility is primarily or secondarily liable, aggregates not more than twelve percent of the total capitalization of such utility.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13407,"edition_id":1,"name":"Issuance of Stocks, Bonds, Etc.","identifier":"3","label":"chapter","depth":2,"order_by":1,"parent_id":12881,"metadata":{},"date_created":"2026-06-26 03:44:50","date_modified":"2026-06-26 03:44:50","permalink":{"id":250983,"object_type":"structure","relational_id":13407,"identifier":"3","token":"56\/3","url":"\/56\/3\/","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":63393,"structure_id":13407,"section_number":"56-55","catch_line":"Definitions","url":"\/56-55\/","token":"56\/3\/56-55","metadata":false},{"id":79449,"structure_id":13407,"section_number":"56-56","catch_line":"Issue of securities a special privilege subject to regulation","url":"\/56-56\/","token":"56\/3\/56-56","metadata":false},{"id":61976,"structure_id":13407,"section_number":"56-57","catch_line":"Securities to which chapter is applicable","url":"\/56-57\/","token":"56\/3\/56-57","metadata":false},{"id":67371,"structure_id":13407,"section_number":"56-58","catch_line":"Purposes for which stock, etc., may issue","url":"\/56-58\/","token":"56\/3\/56-58","metadata":false},{"id":55890,"structure_id":13407,"section_number":"56-59","catch_line":"Order required before acting as surety, guarantor, etc","url":"\/56-59\/","token":"56\/3\/56-59","metadata":false},{"id":63271,"structure_id":13407,"section_number":"56-60","catch_line":"Application for order authorizing issuance of securities or assumption of liabilities","url":"\/56-60\/","token":"56\/3\/56-60","metadata":false},{"id":60189,"structure_id":13407,"section_number":"56-61","catch_line":"Action of Commission on such application","url":"\/56-61\/","token":"56\/3\/56-61","metadata":false},{"id":76140,"structure_id":13407,"section_number":"56-62","catch_line":"Joint action with commission of another state","url":"\/56-62\/","token":"56\/3\/56-62","metadata":false},{"id":56885,"structure_id":13407,"section_number":"56-63","catch_line":"Appeal from decision of Commission on issuance of securities","url":"\/56-63\/","token":"56\/3\/56-63","metadata":false},{"id":64916,"structure_id":13407,"section_number":"56-64","catch_line":"Repealed","url":"\/56-64\/","token":"56\/3\/56-64","metadata":false},{"id":69084,"structure_id":13407,"section_number":"56-65","catch_line":"Exceptions as to issue of stock, etc., in treasury, etc","url":"\/56-65\/","token":"56\/3\/56-65","metadata":false},{"id":77168,"structure_id":13407,"section_number":"56-65.1","catch_line":"Short-term indebtedness","url":"\/56-65.1\/","token":"56\/3\/56-65.1","metadata":false},{"id":67701,"structure_id":13407,"section_number":"56-65.2","catch_line":"Repealed","url":"\/56-65.2\/","token":"56\/3\/56-65.2","metadata":false},{"id":71883,"structure_id":13407,"section_number":"56-66","catch_line":"No authority to capitalize permit, franchise or contract for consolidation","url":"\/56-66\/","token":"56\/3\/56-66","metadata":false},{"id":81486,"structure_id":13407,"section_number":"56-67","catch_line":"Issuance of securities or assumption of liability void if order not obtained","url":"\/56-67\/","token":"56\/3\/56-67","metadata":false},{"id":82637,"structure_id":13407,"section_number":"56-67.1","catch_line":"Validity of authorized securities","url":"\/56-67.1\/","token":"56\/3\/56-67.1","metadata":false},{"id":54376,"structure_id":13407,"section_number":"56-68","catch_line":"No licensed salesman required when securities approved under this chapter","url":"\/56-68\/","token":"56\/3\/56-68","metadata":false},{"id":75000,"structure_id":13407,"section_number":"56-69","catch_line":"Purposes to which proceeds of security issues may be applied","url":"\/56-69\/","token":"56\/3\/56-69","metadata":false},{"id":80612,"structure_id":13407,"section_number":"56-70","catch_line":"Accounting for disposition of proceeds of issue of securities","url":"\/56-70\/","token":"56\/3\/56-70","metadata":false},{"id":78258,"structure_id":13407,"section_number":"56-71","catch_line":"Violations of provisions of chapter; penalty","url":"\/56-71\/","token":"56\/3\/56-71","metadata":false},{"id":67116,"structure_id":13407,"section_number":"56-72","catch_line":"Acts of officers, etc., bind company","url":"\/56-72\/","token":"56\/3\/56-72","metadata":false},{"id":86562,"structure_id":13407,"section_number":"56-73","catch_line":"Penalty as to officers, etc., for violation of provisions of chapter","url":"\/56-73\/","token":"56\/3\/56-73","metadata":false},{"id":84419,"structure_id":13407,"section_number":"56-74","catch_line":"State not obligated to pay or guarantee","url":"\/56-74\/","token":"56\/3\/56-74","metadata":false},{"id":69201,"structure_id":13407,"section_number":"56-75","catch_line":"Fees in connection with applications for authority to issue securities","url":"\/56-75\/","token":"56\/3\/56-75","metadata":false}],"previous_section":{"id":69084,"structure_id":13407,"section_number":"56-65","catch_line":"Exceptions as to issue of stock, etc., in treasury, etc","url":"\/56-65\/","token":"56\/3\/56-65","metadata":false},"next_section":{"id":67701,"structure_id":13407,"section_number":"56-65.2","catch_line":"Repealed","url":"\/56-65.2\/","token":"56\/3\/56-65.2","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-65.1\/","history_text":"

This law was first created in 1952. The record of its establishment is cataloged in chapter 148 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 1952 \u201cActs\u201d aren\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 1976, chapter 408; in 1987, chapter 479; in 1995, chapter 137<\/a>.<\/p>","references":[{"id":64762,"section_number":"56-542","catch_line":"Powers of the Commission","order_by":null,"url":"\/56-542\/"},{"id":63393,"section_number":"56-55","catch_line":"Definitions","order_by":null,"url":"\/56-55\/"},{"id":61976,"section_number":"56-57","catch_line":"Securities to which chapter is applicable","order_by":null,"url":"\/56-57\/"}],"refers_to":[{"id":61976,"section_number":"56-57","catch_line":"Securities to which chapter is applicable","order_by":null,"url":"\/56-57\/"},{"id":69084,"section_number":"56-65","catch_line":"Exceptions as to issue of stock, etc., in treasury, etc","order_by":null,"url":"\/56-65\/"}],"permalink":{"id":251029,"object_type":"law","relational_id":77168,"identifier":"56-65.1","token":"56\/3\/56-65.1","url":"\/56-65.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/56-65.1\/","token":"56\/3\/56-65.1","dublin_core":{"Title":"Short-term indebtedness","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-65.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Notwithstanding the provisions of \u00a7\u00a7 56-57<\/a> and 56-65<\/a>, the provisions of this chapter shall apply to the issuance of any note or notes by any public service company<\/span> which has total capitalization<\/span>, including securities<\/span> having a maturity date of less than twelve months from the time of issue<\/span>, of five million dollars or more, unless such note or notes together with all other outstanding notes and drafts of a maturity of less than twelve months on which such utility is primarily or secondarily liable, aggregates not more than twelve percent of the total capitalization<\/span> of such utility.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSHORT-TERM INDEBTEDNESS (\u00a7 56-65.1)\n\nNotwithstanding the provisions of \u00a7\u00a7 56-57 and 56-65, the provisions of this\nchapter shall apply to the issuance of any note or notes by any public service\ncompany which has total capitalization, including securities having a maturity\ndate of less than twelve months from the time of issue, of five million dollars\nor more, unless such note or notes together with all other outstanding notes and\ndrafts of a maturity of less than twelve months on which such utility is\nprimarily or secondarily liable, aggregates not more than twelve percent of the\ntotal capitalization of such utility.\n\nHISTORY: 1952, c. 148; 1976, c. 408; 1987, c. 479; 1995, c. 137.","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}}