{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/13.1-694.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/13.1-694.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/13.1-694.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/13.1-694.html"}],"law_id":346836,"edition_id":2,"section_id":346836,"structure_id":49791,"section_number":"13.1-694","catch_line":"Duties of officers","history":"Code 1950, \u00a7 13.1-45; 1956, c. 428; 1972, c. 606; 1975, c. 500; 1982, c. 372; 1985, c. 522; 2019, c. 734.","full_text":"A\n\nEach officer has the authority and shall perform the duties set forth in the bylaws or, to the extent consistent with the bylaws, the duties prescribed by the board of directors or by direction of an officer authorized by the board of directors to prescribe the duties of other officers.\n\nB\n\nIn discharging his duties, an officer who does not have knowledge that makes reliance unwarranted is entitled to rely on:\n\n1\n\nThe performance of properly delegated responsibilities by one or more employees of the corporation whom the officer believes in good faith to be reliable and competent in performing the responsibilities delegated; or\n\n2\n\nInformation, opinions, reports or statements, including financial statements and other financial data, prepared or presented by one or more employees of the corporation whom the officer believes in good faith to be reliable and competent in the matters presented or by legal counsel, public accountants, or other persons retained by the corporation as to matters involving skills or expertise the officer believes in good faith are matters (i) within the particular person’s professional or expert competence or (ii) as to which the particular person merits confidence.\n\n","order_by":null,"text":{"0":{"id":1293621,"text":"Each officer has the authority and shall perform the duties set forth in the bylaws or, to the extent consistent with the bylaws, the duties prescribed by the board of directors or by direction of an officer authorized by the board of directors to prescribe the duties of other officers.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1293622,"text":"In discharging his duties, an officer who does not have knowledge that makes reliance unwarranted is entitled to rely on:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":1293623,"text":"The performance of properly delegated responsibilities by one or more employees of the corporation whom the officer believes in good faith to be reliable and competent in performing the responsibilities delegated; or","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":1293624,"text":"Information, opinions, reports or statements, including financial statements and other financial data, prepared or presented by one or more employees of the corporation whom the officer believes in good faith to be reliable and competent in the matters presented or by legal counsel, public accountants, or other persons retained by the corporation as to matters involving skills or expertise the officer believes in good faith are matters (i) within the particular person’s professional or expert competence or (ii) as to which the particular person merits confidence.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1"}},"ancestry":[{"id":49791,"edition_id":2,"name":"Directors and Officers","identifier":"9","label":"article","depth":3,"order_by":11,"parent_id":49780,"metadata":{"child_laws":27,"child_structures":0},"date_created":"2026-08-02 02:15:20","date_modified":"2026-08-02 12:29:11","permalink":{"id":1378171,"object_type":"structure","relational_id":49791,"identifier":"9","token":"13.1\/9\/9","url":"\/13.1\/9\/9\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49780,"edition_id":2,"name":"Virginia Stock Corporation Act","identifier":"9","label":"chapter","depth":2,"order_by":12,"parent_id":49726,"metadata":{"child_laws":265,"child_structures":27},"date_created":"2026-08-02 02:14:54","date_modified":"2026-08-02 12:29:09","permalink":{"id":1377165,"object_type":"structure","relational_id":49780,"identifier":"9","token":"13.1\/9","url":"\/13.1\/9\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49726,"edition_id":2,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":44,"parent_id":null,"metadata":{"child_laws":894,"child_structures":104},"date_created":"2026-08-02 02:14:01","date_modified":"2026-08-02 12:29:04","permalink":{"id":1374495,"object_type":"structure","relational_id":49726,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":346811,"structure_id":49791,"section_number":"13.1-673","catch_line":"Requirement for and duties of board of directors","url":"\/13.1-673\/","token":"13.1\/9\/9\/13.1-673","metadata":false},{"id":346812,"structure_id":49791,"section_number":"13.1-674","catch_line":"Qualifications for directors or for nominees for director","url":"\/13.1-674\/","token":"13.1\/9\/9\/13.1-674","metadata":{"court_decisions":""}},{"id":346813,"structure_id":49791,"section_number":"13.1-675","catch_line":"Number and election of directors","url":"\/13.1-675\/","token":"13.1\/9\/9\/13.1-675","metadata":{"court_decisions":{"0":{"name":"In Re Old Grind Co., Inc.","case_number":"19-70170","citation":"99 B.R. 317","date":"1989-05-25","url":"https:\/\/www.courtlistener.com\/opinion\/2012268\/in-re-old-grind-co-inc\/","abstract":" .\u202f.\u202f. 99 B.R. 317 (1989) .\u202f.\u202f. ","court_html":"United States Bankruptcy Court, W.D. 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The record of this law\u2019s original creation isn\u2019t available online. It has been modified 6 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1956, chapter 428; in 1972, chapter 606; in 1975, chapter 500; in 1982, chapter 372; in 1985, chapter 522; in 2019, chapter 734<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1378273,"object_type":"law","relational_id":346836,"identifier":"13.1-694","token":"13.1\/9\/9\/13.1-694","url":"\/13.1-694\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/13.1-694\/","token":"13.1\/9\/9\/13.1-694","dublin_core":{"Title":"Duties of officers","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-694","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Each officer has the authority and shall perform the duties set forth in the bylaws or, to the extent consistent with the bylaws, the duties prescribed by the board of directors or by direction of an officer authorized by the board of directors to prescribe the duties of other officers. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> In discharging his duties, an officer who does not have knowledge that makes reliance unwarranted is entitled to rely on: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The performance of properly delegated responsibilities by one or more employees of the corporation<\/span> whom the officer believes in good faith to be reliable and competent in performing the responsibilities delegated; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Information, opinions<\/span>, reports or statements, including financial statements and other financial data, prepared or presented by one or more employees of the corporation<\/span> whom the officer believes in good faith to be reliable and competent in the matters presented or by legal counsel<\/span>, public accountants, or other persons<\/span> retained by the corporation<\/span> as to matters involving skills or expertise the officer believes in good faith are matters (i) within the particular person<\/span>’s professional or expert competence or (ii) as to which the particular person<\/span> merits confidence. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDUTIES OF OFFICERS (\u00a7 13.1-694)\n\nA. Each officer has the authority and shall perform the duties set forth in the\nbylaws or, to the extent consistent with the bylaws, the duties prescribed by\nthe board of directors or by direction of an officer authorized by the board of\ndirectors to prescribe the duties of other officers.\n\nB. In discharging his duties, an officer who does not have knowledge that makes\nreliance unwarranted is entitled to rely on:\n\n 1. The performance of properly delegated responsibilities by one or more\n employees of the corporation whom the officer believes in good faith to be\n reliable and competent in performing the responsibilities delegated; or\n\n 2. Information, opinions, reports or statements, including financial\n statements and other financial data, prepared or presented by one or more\n employees of the corporation whom the officer believes in good faith to be\n reliable and competent in the matters presented or by legal counsel, public\n accountants, or other persons retained by the corporation as to matters\n involving skills or expertise the officer believes in good faith are matters\n (i) within the particular person’s professional or expert competence or\n (ii) as to which the particular person merits confidence.\n\nHISTORY: Code 1950, \u00a7 13.1-45; 1956, c. 428; 1972, c. 606; 1975, c. 500; 1982,\nc. 372; 1985, c. 522; 2019, c. 734.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}