CODE OF VIRGINIA

FOREIGN CORPORATIONS (§ 13.1-672.3)

Notwithstanding the provisions of §§ 13.1-672.1 and 13.1-672.4, in any
derivative proceeding in the right of a foreign corporation, subject to the
court’s determination of whether the courts of the Commonwealth are a
convenient forum for such a proceeding, determinations of (i) standing and
satisfaction of conditions precedent to commencing and maintaining derivative
proceedings and (ii) grounds for dismissal of derivative proceedings, shall be
governed by the laws of the foreign corporation’s state of incorporation.

HISTORY: 1992, c. 802; 2005, c. 765.