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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>59299</law_id><section_number>13.1-785</section_number><catch_line>Election of status after formation</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><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="22">Benefit Corporations</unit></structure><text>
						<section><p>A corporation that was not formed as a <span class="dictionary">benefit corporation</span> may become a <span class="dictionary">benefit corporation</span> by amending its articles so that they contain, in addition to matters required by &#xA7;&#xA0;<a class="law" title="Articles of incorporation" href="/13.1-619/">13.1-619</a>, a statement that the corporation is a <span class="dictionary">benefit corporation</span>. Any such amendment to the <span class="dictionary">articles of incorporation</span> shall be adopted in accordance with the procedures set forth in &#xA7;&#xA0;<a class="law" title="Amendment of articles of incorporation by the board of directors and shareholders" href="/13.1-707/">13.1-707</a>; however, the amendment shall be approved by all <span class="dictionary">shareholders</span> entitled to vote on the amendment, or if no <span class="dictionary">shares</span> have yet been issued, in accordance with &#xA7;&#xA0;<a class="law" title="Amendment of articles of incorporation by incorporators" href="/13.1-709/">13.1-709</a>.</p></section></text><history>2011, c. 698.</history><metadata></metadata></law>
