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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>82085</law_id><section_number>13.1-614.5</section_number><catch_line>Notice</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>13.1-614.1</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="1" identifier="9">Virginia Stock Corporation Act</unit><unit label="article" level="3" order_by="1" identifier="1.1">Ratification of Defective Corporate Actions</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> Unless <span class="dictionary">shareholder</span> approval is required under subsection C of &#xA7; <a class="law" title="Ratification of defective corporate actions" href="/13.1-614.3/">13.1-614.3</a>, prompt notice of an action taken under &#xA7; <a class="law" title="Ratification of defective corporate actions" href="/13.1-614.3/">13.1-614.3</a> shall be given to each holder of valid and <span class="dictionary">putative shares</span>, regardless of whether entitled to vote, as of (i) the date of such action by the board of directors and (ii) the <span class="dictionary">date of the <span class="dictionary">defective corporate action</span></span> ratified, provided that notice shall not be required to be given to holders of valid and <span class="dictionary">putative shares</span> whose identities or addresses for notice cannot be determined from the records of the <span class="dictionary">corporation</span>. <a id="paragraph-294161" class="section-permalink" href="https://vacode.org/13.1-614.5/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The notice shall contain (i) either a copy of the action taken by the board of directors in accordance with subsection A or B of &#xA7; <a class="law" title="Ratification of defective corporate actions" href="/13.1-614.3/">13.1-614.3</a> or the information required by subdivisions A 1 through 4 or B 1, 2, and 3 of &#xA7; <a class="law" title="Ratification of defective corporate actions" href="/13.1-614.3/">13.1-614.3</a>, as applicable, and (ii) a statement that any claim that the ratification of the <span class="dictionary">defective corporate action</span> and any <span class="dictionary">putative shares</span> issued as a result of such <span class="dictionary">defective corporate action</span> should not be effective, or should be effective only on certain conditions, shall be brought within 120 days from the applicable <span class="dictionary">validation effective time</span>. <a id="paragraph-294162" class="section-permalink" href="https://vacode.org/13.1-614.5/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> No notice under this section is required with respect to any action required to be submitted to <span class="dictionary">shareholders</span> for approval under subsection C of &#xA7; <a class="law" title="Ratification of defective corporate actions" href="/13.1-614.3/">13.1-614.3</a> if notice is given in accordance with &#xA7; <a class="law" title="Action of ratification" href="/13.1-614.4/">13.1-614.4</a>. <a id="paragraph-294163" class="section-permalink" href="https://vacode.org/13.1-614.5/#C"><i class="fa fa-link"/></a></p></section>
						<section id="D"><p><span class="prefix-number">D.</span> A notice required by this section may be given in any manner permitted by &#xA7; <a class="law" title="Notices and other communications" href="/13.1-610/">13.1-610</a> and for any <span class="dictionary">public corporation</span> may be given by means of a filing or furnishing of such notice with the U.S. Securities and Exchange <span class="dictionary">Commission</span>. <a id="paragraph-294164" class="section-permalink" href="https://vacode.org/13.1-614.5/#D"><i class="fa fa-link"/></a></p></section></text><history>2019, c. 734.</history><metadata></metadata></law>
