                                 CODE OF VIRGINIA

EFFECT OF CERTIFICATE OF AUTHORITY (§ 13.1-923)

A. A certificate of authority authorizes the foreign corporation to which it is
issued to transact business in the Commonwealth, subject, however, to the right
of the Commonwealth to revoke the certificate as provided in this Act.

B. A foreign corporation holding a valid certificate of authority shall have no
greater rights and privileges than a domestic corporation. The certificate of
authority shall not be deemed to authorize it to exercise any of its corporate
powers or purposes that a foreign corporation is forbidden by law to exercise in
the Commonwealth.

C. This Act does not authorize the Commonwealth to regulate the organization or
internal affairs of a foreign corporation authorized to transact business in the
Commonwealth.

HISTORY: Code 1950, §§ 13.1-266, 13.1-271; 1956, c. 428; 1985, c. 522; 2007,
c. 925.