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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>70800</law_id><section_number>13.1-898.7</section_number><catch_line>Abandonment of domestication</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="10">Virginia Nonstock Corporation Act</unit><unit label="article" level="3" order_by="1" identifier="11.1">Domestication</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> Unless otherwise provided in the plan of <span class="dictionary">domestication</span>, after a plan of <span class="dictionary">domestication</span> has been adopted and approved by a <span class="dictionary">domestic corporation</span> as required by this article, and at any time before the certificate of <span class="dictionary">incorporation surrender</span> has become effective, the plan may be abandoned by the corporation without action by its <span class="dictionary">members</span> in accordance with any procedures set forth in the plan or, if no such procedures are set forth in the plan, in the manner determined by the <span class="dictionary">board of directors</span>. <a id="paragraph-255341" class="section-permalink" href="https://vacode.org/13.1-898.7/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> A <span class="dictionary">domesticating corporation</span> that is a <span class="dictionary">foreign corporation</span> may abandon its <span class="dictionary">domestication</span> to a <span class="dictionary">domestic corporation</span> in the manner prescribed by its <span class="dictionary">organic law</span>. <a id="paragraph-255342" class="section-permalink" href="https://vacode.org/13.1-898.7/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> If a <span class="dictionary">domestication</span> is abandoned after <span class="dictionary">articles of incorporation</span> surrender or articles of <span class="dictionary">domestication</span> have been filed with the <span class="dictionary">Commission</span> but before the certificate of <span class="dictionary">incorporation surrender</span> or certificate of <span class="dictionary">domestication</span> has become effective, a statement of abandonment signed by the <span class="dictionary">domesticating corporation</span> shall be delivered to the <span class="dictionary">Commission</span> for filing prior to the effective time and date of the certificate of <span class="dictionary">incorporation surrender</span> or certificate of <span class="dictionary">domestication</span>. If the <span class="dictionary">Commission</span> finds that the statement of abandonment complies with the requirements of law, it shall <span class="dictionary">issue</span> a certificate of abandonment, effective as of the date and time the statement of abandonment was received by the <span class="dictionary">Commission</span>, and the <span class="dictionary">domestication</span> shall be deemed abandoned and shall not become effective. <a id="paragraph-255343" class="section-permalink" href="https://vacode.org/13.1-898.7/#C"><i class="fa fa-link"/></a></p></section>
						<section id="D"><p><span class="prefix-number">D.</span> The statement of abandonment shall contain: <a id="paragraph-255344" class="section-permalink" href="https://vacode.org/13.1-898.7/#D"><i class="fa fa-link"/></a></p></section>
						<section id="D1" class="indent-1"><p><span class="prefix-number">1.</span> The name of the <span class="dictionary">domesticating corporation</span> and its <span class="dictionary">jurisdiction of formation</span>; <a id="paragraph-255345" class="section-permalink" href="https://vacode.org/13.1-898.7/#D1"><i class="fa fa-link"/></a></p></section>
						<section id="D2" class="indent-1"><p><span class="prefix-number">2.</span> When the <span class="dictionary">domestication</span> corporation is a <span class="dictionary">foreign corporation</span>, the name of the <span class="dictionary">domesticated corporation</span> set forth in the articles of <span class="dictionary">domestication</span>; <a id="paragraph-255346" class="section-permalink" href="https://vacode.org/13.1-898.7/#D2"><i class="fa fa-link"/></a></p></section>
						<section id="D3" class="indent-1"><p><span class="prefix-number">3.</span> The date on which the <span class="dictionary">articles of incorporation</span> surrender or articles of <span class="dictionary">domestication</span> were filed with the <span class="dictionary">Commission</span>; <a id="paragraph-255347" class="section-permalink" href="https://vacode.org/13.1-898.7/#D3"><i class="fa fa-link"/></a></p></section>
						<section id="D4" class="indent-1"><p><span class="prefix-number">4.</span> The date and time on which the <span class="dictionary">Commission</span>&#x2019;s certificate of <span class="dictionary">incorporation surrender</span> or certificate of <span class="dictionary">domestication</span> becomes effective; and <a id="paragraph-255348" class="section-permalink" href="https://vacode.org/13.1-898.7/#D4"><i class="fa fa-link"/></a></p></section>
						<section id="D5" class="indent-1"><p><span class="prefix-number">5.</span> A statement that <span class="dictionary">domestication</span> is being abandoned in accordance with this section or, when the <span class="dictionary">domesticating corporation</span> is a <span class="dictionary">foreign corporation</span>, a statement that the <span class="dictionary">foreign corporation</span> abandoned the <span class="dictionary">domestication</span> as required by its <span class="dictionary">organic law</span>. <a id="paragraph-255349" class="section-permalink" href="https://vacode.org/13.1-898.7/#D5"><i class="fa fa-link"/></a></p></section></text><history>2003, c. 374; 2007, c. 925; 2015, c. 623; 2021, Sp. Sess. I, c. 487.</history><metadata></metadata></law>
