                                 CODE OF VIRGINIA

EFFECTIVENESS AND REPORTS (§ 13.1-511)

A registration statement filed under this article may be filed by the issuer,
any other person on whose behalf the offer is to be made or by any registered
broker-dealer. When securities are registered, they may be offered and sold by
the issuer, by such other person or by any registered broker-dealer, whether or
not named in the registration statement. Every registration statement shall
remain effective until revoked by the Commission or until terminated upon
request of the registrant with the consent of the Commission. So long as a
registration statement remains effective, all outstanding securities of the same
class shall be considered to be registered for the purpose of any nonissuer
distribution. So long as the registration statement remains effective, the
Commission may require the registrant to file reports, not more often than
quarterly, to keep reasonably current the information contained in the
registration statement. The Commission may require such information to be
included in the prospectus.

HISTORY: 1956, c. 428; 1991, c. 223; 2003, c. 595.