                                 CODE OF VIRGINIA

POWERS GRANTED CORPORATION (§ 56-495)

Each corporation formed under this chapter shall have power to do any and all
acts or things necessary or incidental for carrying out the purpose for which it
was formed, including, but not limited to:

1. To furnish or provide telephone service or any of the facilities necessary
therefor in connection with the furnishing or providing of such service with
others both within and without this Commonwealth and to provide such services or
facilities as may be incidental or related to providing telephone service.

2. To sue and be sued.

3. To have a seal and alter the same at pleasure.

4. To acquire, hold and dispose of property, real and personal, tangible and
intangible, or interests therein and to pay therefor in cash or property or on
credit, and to secure and procure payment of all or any part of the purchase
price thereof on such terms and conditions as the board shall determine.

5. To acquire, own and dispose of shares or interests in other entities engaged
in communications businesses.

6. To render service and to acquire, own, operate, maintain and improve a system
or systems.

7. To accept gifts or grants of money, or property, real or personal, from any
person, municipality or federal agency and to accept voluntary and uncompensated
services.

8. To sell, lease, mortgage or otherwise encumber or dispose of all or any part
of its property, as hereinafter provided.

9. To contract debts, borrow money and to issue or assume the payment of bonds,
and other obligations.

10. To fix, maintain and collect reasonable fees, rents, tolls and other charges
for services rendered.

11. To exercise all the powers set forth in &#xA7; 56-49, including the power of
eminent domain as prescribed for other public service corporations by general
law.

12. To issue nonassessable nonvoting common and preferred capital stock and pay
annually noncumulative dividends thereon not exceeding four percent and no
cooperative operating hereunder shall pay annually more than four percent
interest on membership capital.

13. To perform any and all of the foregoing acts and to do any and all of the
foregoing things under, through or by means of its own officers, agents and
employees, or by contracts with any person, federal agency or municipality.

HISTORY: 1950, p. 592; 1956, c. 434; 1989, c. 185; 2001, c. 386.