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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>83854</law_id><section_number>13.1-837</section_number><catch_line>Members</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>13.1-803</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="10">Virginia Nonstock Corporation Act</unit><unit label="article" level="3" order_by="1" identifier="7">Members and Meetings</unit></structure><text>
						<section><p>A <span class="dictionary">corporation</span> may have one or more classes of <span class="dictionary">members</span> or may have no <span class="dictionary">members</span>. If the <span class="dictionary">corporation</span> has one or more classes of <span class="dictionary">members</span>, the designation of such class or classes and the qualifications and rights of the <span class="dictionary">members</span> of each class shall be set forth in the <span class="dictionary">articles of incorporation</span> or, if the <span class="dictionary">articles of incorporation</span> so provide, in the bylaws. A <span class="dictionary">corporation</span> may <span class="dictionary">issue</span> certificates evidencing <span class="dictionary">membership interests</span> therein. <span class="dictionary">Membership interests</span> shall not be transferable. <span class="dictionary">Members</span> shall not have voting or other rights except as provided in the <span class="dictionary">articles of incorporation</span> or if the <span class="dictionary">articles of incorporation</span> so provide, in the bylaws. <span class="dictionary">Members</span> of any <span class="dictionary">corporation</span> existing on January 1, 1957, shall continue to have the same voting and other rights as before January 1, 1957, until changed by amendment of the <span class="dictionary">articles of incorporation</span>.</p></section></text><history>Code 1950, &#xA7; 13.1-211; 1956, c. 428; 1958, c. 564; 1982, c. 182; 1985, c. 522; 2007, c. 925.</history><metadata></metadata></law>
