{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/56-74.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/56-74.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/56-74.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/56-74.html"}],"law_id":84419,"edition_id":1,"section_id":84419,"structure_id":13407,"section_number":"56-74","catch_line":"State not obligated to pay or guarantee","history":"1934, p. 226; Michie Code 1942, \u00a7 4073(14).","full_text":"No provision of this chapter, and no deed or act done or performed under or in connection therewith, shall be held or construed to obligate the Commonwealth of Virginia to pay or guarantee, in any manner whatsoever, any stock or stock certificate or other evidence of interest or ownership, or bond, note or other evidence of indebtedness, authorized, issued or executed under the provisions of this chapter, nor shall any approval given under this chapter involve, or be construed or represented as involving, an expression of opinion on the part of the Commission as to value, and any person who shall make, directly or by implication, any statement or representation to the contrary shall be guilty of a misdemeanor.","order_by":null,"text":{"0":{"id":302605,"text":"No provision of this chapter, and no deed or act done or performed under or in connection therewith, shall be held or construed to obligate the Commonwealth of Virginia to pay or guarantee, in any manner whatsoever, any stock or stock certificate or other evidence of interest or ownership, or bond, note or other evidence of indebtedness, authorized, issued or executed under the provisions of this chapter, nor shall any approval given under this chapter involve, or be construed or represented as involving, an expression of opinion on the part of the Commission as to value, and any person who shall make, directly or by implication, any statement or representation to the contrary shall be guilty of a misdemeanor.","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 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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; 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chapter","url":"\/56-73\/","token":"56\/3\/56-73","metadata":false},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-74\/","history_text":false,"references":false,"refers_to":false,"permalink":{"id":251073,"object_type":"law","relational_id":84419,"identifier":"56-74","token":"56\/3\/56-74","url":"\/56-74\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/56-74\/","token":"56\/3\/56-74","dublin_core":{"Title":"State not obligated to pay or guarantee","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-74","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>No provision of this chapter, and no deed or act done or performed under or in connection therewith, shall be held or construed to obligate the Commonwealth of Virginia to pay or guarantee, in any manner whatsoever, any stock or stock certificate or other <span class=\"dictionary\">evidence<\/span> of interest or ownership, or <span class=\"dictionary\">bond<\/span>, note or other <span class=\"dictionary\">evidence<\/span> of indebtedness, authorized, issued or executed under the provisions of this chapter, nor shall any approval given under this chapter involve, or be construed or represented as involving, an expression of <span class=\"dictionary\">opinion<\/span> on the part of the <span class=\"dictionary\">Commission<\/span> as to value, and any <span class=\"dictionary\">person<\/span> who shall make, directly or by implication, any statement or representation to the contrary shall be guilty of a <span class=\"dictionary\">misdemeanor<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nSTATE NOT OBLIGATED TO PAY OR GUARANTEE (\u00a7 56-74)\n\nNo provision of this chapter, and no deed or act done or performed under or in\nconnection therewith, shall be held or construed to obligate the Commonwealth of\nVirginia to pay or guarantee, in any manner whatsoever, any stock or stock\ncertificate or other evidence of interest or ownership, or bond, note or other\nevidence of indebtedness, authorized, issued or executed under the provisions of\nthis chapter, nor shall any approval given under this chapter involve, or be\nconstrued or represented as involving, an expression of opinion on the part of\nthe Commission as to value, and any person who shall make, directly or by\nimplication, any statement or representation to the contrary shall be guilty of\na misdemeanor.\n\nHISTORY: 1934, p. 226; Michie Code 1942, \u00a7 4073(14).","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}}