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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>69331</law_id><section_number>13.1-755</section_number><catch_line>Survival of remedy after termination of corporate existence</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>56-264</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="16">Dissolution</unit></structure><text>
						<section><p>The termination of corporate existence shall not take away or impair any remedy available to or against the <span class="dictionary">corporation</span> or its directors, officers, or <span class="dictionary">shareholders</span> for any right or claim existing or any liability incurred prior to such termination. Any such action or <span class="dictionary">proceeding</span> by or against the <span class="dictionary">corporation</span> may be prosecuted or defended by the <span class="dictionary">corporation</span> in its corporate name. The <span class="dictionary">shareholders</span>, directors, and officers shall have power to take such corporate or other action as shall be appropriate to protect such remedy, right, or claim.</p></section></text><history>Code 1950, &#xA7; 13.1-101; 1956, c. 428; 1985, c. 522; 2019, c. 734.</history><metadata></metadata></law>
