Industrial Development Corporations

This is the 2026 edition of the code. This is the current edition. It was last updated Aug 02, 2026. Browse all editions.

This is Chapter 11 of the Code of Virginia, titled “Industrial Development Corporations.” It is part of Title 13.1 “Corporations”. It contains 18 laws.

It’s comprised of the following 18 sections.

§ 13.1-981	How chapter cited
§ 13.1-982	Definitions
§ 13.1-983	Incorporation
§ 13.1-984	Corporate name
§ 13.1-985	Governor to approve articles of incorporation
§ 13.1-986	How funds may be derived
§ 13.1-987	Restrictions on powers of corporation
§ 13.1-988	Acquisition, transfer, etc., of securities and shares of corporation
§ 13.1-989	Membership in corporation; loans from members
§ 13.1-990	Shares and shareholders
§ 13.1-991	Directors
§ 13.1-992	Executive committee
§ 13.1-993	Restrictions on amendments to articles of incorporation
§ 13.1-994	Earned surplus
§ 13.1-995	Members to have rights of shareholders
§ 13.1-996	Corporation not authorized to receive money on deposit; deposit of funds of corporation
§ 13.1-997	Books and records
§ 13.1-998	Credit of Commonwealth not pledged