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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>77944</law_id><section_number>13.1-790</section_number><catch_line>Right of action</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 id="A"><p><span class="prefix-number">A.</span> The duties of directors and officers under this article, the obligation of a <span class="dictionary">benefit corporation</span> to prepare and make available the annual benefit report required under &#xA7; <a class="law" title="Annual benefit report" href="/13.1-791/">13.1-791</a>, and the general and any <span class="dictionary">specific public benefit</span> purpose of a <span class="dictionary">benefit corporation</span> may be enforced only in a <span class="dictionary">benefit enforcement proceeding</span>. No <span class="dictionary">person</span> may bring an action or assert a claim against a <span class="dictionary">benefit corporation</span> or its directors or officers with respect to the duties of directors and officers under this article and the general and any <span class="dictionary">specific public benefit</span> purpose of the <span class="dictionary">benefit corporation</span> except in a <span class="dictionary">benefit enforcement proceeding</span>. <a id="paragraph-279488" class="section-permalink" href="https://vacode.org/13.1-790/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> A <span class="dictionary">benefit enforcement proceeding</span> may be commenced or maintained only: <a id="paragraph-279489" class="section-permalink" href="https://vacode.org/13.1-790/#B"><i class="fa fa-link"/></a></p></section>
						<section id="B1" class="indent-1"><p><span class="prefix-number">1.</span> Directly by the <span class="dictionary">benefit corporation</span>; or <a id="paragraph-279490" class="section-permalink" href="https://vacode.org/13.1-790/#B1"><i class="fa fa-link"/></a></p></section>
						<section id="B2" class="indent-1"><p><span class="prefix-number">2.</span> Derivatively by:
				a. A <span class="dictionary">shareholder</span> of the <span class="dictionary">benefit corporation</span>;
				b. A director of the <span class="dictionary">benefit corporation</span>; or
				c. Other <span class="dictionary">persons</span> as specified in the <span class="dictionary">articles of incorporation</span> or bylaws of the <span class="dictionary">benefit corporation</span>. <a id="paragraph-279491" class="section-permalink" href="https://vacode.org/13.1-790/#B2"><i class="fa fa-link"/></a></p></section></text><history>2011, c. 698.</history><metadata></metadata></law>
