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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>61375</law_id><section_number>13.1-923</section_number><catch_line>Effect of certificate of authority</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="14">Foreign Corporations</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> A certificate of authority authorizes the <span class="dictionary">foreign corporation</span> to which it is issued to <span class="dictionary">transact business</span> in the Commonwealth, subject, however, to the right of the Commonwealth to revoke the certificate as provided in this Act. <a id="paragraph-224192" class="section-permalink" href="https://vacode.org/13.1-923/#A"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> A <span class="dictionary">foreign corporation</span> holding a valid certificate of authority shall have no greater rights and <span class="dictionary">privileges</span> than a <span class="dictionary">domestic corporation</span>. The certificate of authority shall not be deemed to authorize it to exercise any of its corporate powers or purposes that a <span class="dictionary">foreign corporation</span> is forbidden by <span class="dictionary">law</span> to exercise in the Commonwealth. <a id="paragraph-224193" class="section-permalink" href="https://vacode.org/13.1-923/#B"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> This Act does not authorize the Commonwealth to regulate the organization or internal affairs of a <span class="dictionary">foreign corporation</span> authorized to <span class="dictionary">transact business</span> in the Commonwealth. <a id="paragraph-224194" class="section-permalink" href="https://vacode.org/13.1-923/#C"><i class="fa fa-link"/></a></p></section></text><history>Code 1950, &#xA7;&#xA7; 13.1-266, 13.1-271; 1956, c. 428; 1985, c. 522; 2007, c. 925.</history><metadata></metadata></law>
