<?xml version="1.0"?>
<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>58421</law_id><section_number>13.1-988</section_number><catch_line>Acquisition, transfer, etc., of securities and shares of corporation</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="11">Industrial Development Corporations</unit></structure><text>
						<section><p>Notwithstanding any other provision of <span class="dictionary">law</span>, any person, corporation, including a public service corporation, financial institution or railroad may acquire, hold, sell, assign, transfer, mortgage, pledge or otherwise dispose of any <span class="dictionary">bonds</span>, notes, debentures, securities or other <span class="dictionary">evidences</span> of indebtedness, or the shares of capital stock of a corporation created hereunder, provided that the amount of capital stock which may be acquired by any member of such corporation shall not exceed ten percent of the loan limit of such member.</p></section></text><history>Code 1950, &#xA7; 13.1-146; 1960, c. 80; 1985, c. 522.</history><metadata></metadata></law>
