Virginia Statutes
§ 13.1-996 — Corporation not authorized to receive money on deposit; deposit of funds of corporation
Virginia § 13.1-996
This text of Virginia § 13.1-996 (Corporation not authorized to receive money on deposit; deposit of funds of corporation) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Va. Code Ann. § 13.1-996 (2026).
Text
No corporation organized under the provisions of this chapter shall at any time be authorized to receive money on deposit. The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by appropriate vote of the board of directors or executive committee.
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Legislative History
Code 1950, § 13.1-153; 1960, c. 80; 1972, c. 693; 1985, c. 522.
Nearby Sections
15
§ 13.1-1
Repealed§ 13.1-1000
Short title§ 13.1-1001
Reservation of power to amend or repeal§ 13.1-1001.1
Construction§ 13.1-1002
Definitions§ 13.1-1003
Filing requirements§ 13.1-1005
Fees§ 13.1-1006
Penalty for signing false documents§ 13.1-1007
Unlawful to transact or offer to transact business as a limited liability company unless authorized§ 13.1-1008
Purposes§ 13.1-1009
Powers§ 13.1-1010
Organizers§ 13.1-1010.1
RepealedCite This Page — Counsel Stack
Bluebook (online)
Virginia § 13.1-996, Counsel Stack Legal Research, https://law.counselstack.com/statute/va/13.1/13.1-996.