                                 CODE OF VIRGINIA

EFFECTIVE TIME AND DATE OF DOCUMENT (§ 13.1-806)

A. Except as otherwise provided in &#xA7; 13.1-807, a certificate issued by the
Commission is effective at the time such certificate is issued, unless the
certificate relates to articles filed with the Commission and the articles state
that the certificate shall become effective at a later time or date specified in
the articles. In that event the certificate shall become effective at the
earlier of the time and date so specified or 11:59 p.m. on the fifteenth day
after the date on which the certificate is issued by the Commission. If a
delayed effective date is specified, but no time is specified, the effective
time shall be 12:01 a.m. on the date specified. Any other document filed with
the Commission shall be effective when accepted for filing unless otherwise
provided for in this chapter.

B. Notwithstanding subsection A, any certificate that has a delayed effective
time or date shall not become effective if, prior to the effective time and
date, a statement of cancellation signed by each party to the articles to which
the certificate relates is delivered to the Commission for filing. If the
Commission finds that the statement of cancellation complies with the
requirements of law, it shall, by order, cancel the certificate.

C. A statement of cancellation shall contain:

   1. The name of the corporation;

   2. The name of the articles and the date on which the articles were filed with
   the Commission;

   3. The time and date on which the Commission&#8217;s certificate becomes
   effective; and

   4. A statement that the articles are being canceled in accordance with this
   section.

D. Notwithstanding subsection A, for purposes of &#xA7;&#xA7; 13.1-829 and
13.1-924, any certificate that has a delayed effective date shall be deemed to
be effective when the certificate is issued.

E. For articles with a delayed effective date and time, the effective date and
time shall be Eastern Time.

HISTORY: 1985, c. 522; 2007, c. 925; 2021, Sp. Sess. I, c. 487.