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2002 SESSION

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SB 242 Nonstock Corporation Act.

Introduced by: William C. Wampler, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Virginia Nonstock Corporation Act. Authorizes incorporators to amend the articles of incorporation of a nonstock corporation if it has no members or directors. Other changes to the Nonstock Corporation Act (i) require articles of amendment to include a statement setting forth the reason member or director approval was not required and that any other required approval was obtained; (ii) require articles of restatement to state whether the restatement includes an amendment when approved by the directors without member action; and (iii) correct erroneous Code citations.


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