Virginia Code 56-231.41: Articles of incorporation.
A. The articles of incorporation shall be entitled “Articles of Incorporation of……… Cooperative” (the blank space being filled in with the distinguishing part of the name of the cooperative) and shall state:
Terms Used In Virginia Code 56-231.41
- Affiliate: means a separate affiliated or subsidiary corporation or other separate legal entity. See Virginia Code 56-231.38
- Cooperative: means a power supply cooperative formed under the former Power Supply Cooperatives Act (§ 56-231. See Virginia Code 56-231.38
- regulation: include joint rates, joint charges and joint regulations, respectively. See Virginia Code 56-1
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
1. The name of the cooperative, which name need not contain the word “corporation” or “incorporated,” but shall be such as to distinguish it from any other cooperative;
2. The location and post office address of its principal office and its registered agent;
3. The number of directors;
4. The names and post office addresses of the directors who are to manage the affairs of the cooperative for the first year of its existence, or until their successors are chosen;
5. The duration of the cooperative if its duration is to be limited; and
6. In the case of a cooperative incorporating with capital stock, a statement of the maximum and minimum amount of the capital stock of the cooperative, and its division into shares.
B. The articles of incorporation may also contain any provision not inconsistent with law or the provisions of Title 13.1, which the incorporators may choose to insert for the regulation of the business and the conduct of the affairs of the cooperative; and any provision as to the plan of financial organization, or relating to the internal regulation or the government of the cooperative, its directors and members; provided, however, that subsections D through G of § 13.1-620 and subdivision 1 of § 13.1-825 shall not apply to any affiliate or subsidiary of a cooperative.
1999, c. 874.