{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/6.2-808.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/6.2-808.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/6.2-808.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/6.2-808.html"}],"law_id":374328,"edition_id":2,"section_id":374328,"structure_id":53226,"section_number":"6.2-808","catch_line":"Incorporation; corporate powers","history":"Code 1950, \u00a7 6-10; 1956, c. 433; 1966, c. 584, \u00a7 6.1-6; 1987, c. 556; 2010, c. 794.","full_text":"A\n\nA bank may be incorporated under the Virginia Stock Corporation Act (§ 13.1-601 et seq.), but need not comply with the provisions of subsection A of § 13.1-630.\n\nB\n\nExcept as otherwise provided in this chapter, a bank shall:\n\n1\n\nHave all the powers conferred on corporations, and be subject to all restrictions imposed on corporations, by the Virginia Stock Corporation Act;\n\n2\n\nNot issue its shares for any consideration except money at least equal in amount to the par value of its shares; and\n\n3\n\nNot issue no-par stock.\n\n","order_by":null,"text":{"0":{"id":1397414,"text":"A bank may be incorporated under the Virginia Stock Corporation Act (§ 13.1-601 et seq.), but need not comply with the provisions of subsection A of § 13.1-630.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1397415,"text":"Except as otherwise provided in this chapter, a bank shall:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":1397416,"text":"Have all the powers conferred on corporations, and be subject to all restrictions imposed on corporations, by the Virginia Stock Corporation Act;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":1397417,"text":"Not issue its shares for any consideration except money at least equal in amount to the par value of its shares; and","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":1397418,"text":"Not issue no-par stock.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2"}},"ancestry":[{"id":53226,"edition_id":2,"name":"Incorporation and Powers","identifier":"2","label":"article","depth":4,"order_by":2,"parent_id":53224,"metadata":{"child_laws":12,"child_structures":0},"date_created":"2026-08-02 03:13:22","date_modified":"2026-08-02 12:27:57","permalink":{"id":1492379,"object_type":"structure","relational_id":53226,"identifier":"2","token":"6.2\/II\/8\/2","url":"\/6.2\/II\/8\/2\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53224,"edition_id":2,"name":"Banks","identifier":"8","label":"chapter","depth":3,"order_by":2,"parent_id":53156,"metadata":{"child_laws":155,"child_structures":17},"date_created":"2026-08-02 03:13:21","date_modified":"2026-08-02 12:27:57","permalink":{"id":1492067,"object_type":"structure","relational_id":53224,"identifier":"8","token":"6.2\/II\/8","url":"\/6.2\/II\/8\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53156,"edition_id":2,"name":"Depository Institutions and Trust Organizations","identifier":"II","label":"subtitle","depth":2,"order_by":2,"parent_id":53152,"metadata":{"child_laws":483,"child_structures":51},"date_created":"2026-08-02 03:11:42","date_modified":"2026-08-02 12:27:56","permalink":{"id":1490687,"object_type":"structure","relational_id":53156,"identifier":"II","token":"6.2\/II","url":"\/6.2\/II\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53152,"edition_id":2,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":10,"parent_id":null,"metadata":{"child_laws":961,"child_structures":89},"date_created":"2026-08-02 03:11:41","date_modified":"2026-08-02 12:27:53","permalink":{"id":1490251,"object_type":"structure","relational_id":53152,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":374328,"structure_id":53226,"section_number":"6.2-808","catch_line":"Incorporation; corporate powers","url":"\/6.2-808\/","token":"6.2\/II\/8\/2\/6.2-808","metadata":false},{"id":374329,"structure_id":53226,"section_number":"6.2-809","catch_line":"Bankers' banks","url":"\/6.2-809\/","token":"6.2\/II\/8\/2\/6.2-809","metadata":false},{"id":374330,"structure_id":53226,"section_number":"6.2-810","catch_line":"Effect of chapter on charter powers","url":"\/6.2-810\/","token":"6.2\/II\/8\/2\/6.2-810","metadata":false},{"id":374331,"structure_id":53226,"section_number":"6.2-811","catch_line":"Membership in Federal Reserve Bank System or Federal Home Loan Bank System","url":"\/6.2-811\/","token":"6.2\/II\/8\/2\/6.2-811","metadata":false},{"id":374332,"structure_id":53226,"section_number":"6.2-812","catch_line":"Inspection of records, reports, and information of insured banks","url":"\/6.2-812\/","token":"6.2\/II\/8\/2\/6.2-812","metadata":false},{"id":374333,"structure_id":53226,"section_number":"6.2-813","catch_line":"Participation by banks in school thrift or savings plans","url":"\/6.2-813\/","token":"6.2\/II\/8\/2\/6.2-813","metadata":false},{"id":374334,"structure_id":53226,"section_number":"6.2-814","catch_line":"Powers of banks","url":"\/6.2-814\/","token":"6.2\/II\/8\/2\/6.2-814","metadata":false},{"id":374335,"structure_id":53226,"section_number":"6.2-815","catch_line":"Suspension of business during emergency","url":"\/6.2-815\/","token":"6.2\/II\/8\/2\/6.2-815","metadata":false},{"id":374336,"structure_id":53226,"section_number":"6.2-816","catch_line":"Banks to obtain certificate of authority","url":"\/6.2-816\/","token":"6.2\/II\/8\/2\/6.2-816","metadata":false},{"id":374337,"structure_id":53226,"section_number":"6.2-817","catch_line":"Capital stock subscriptions","url":"\/6.2-817\/","token":"6.2\/II\/8\/2\/6.2-817","metadata":false},{"id":374339,"structure_id":53226,"section_number":"6.2-818","catch_line":"Repealed","url":"\/6.2-818\/","token":"6.2\/II\/8\/2\/6.2-818","metadata":false},{"id":374338,"structure_id":53226,"section_number":"6.2-818.1","catch_line":"Virtual currency custody services by banks","url":"\/6.2-818.1\/","token":"6.2\/II\/8\/2\/6.2-818.1","metadata":false}],"next_section":{"id":374329,"structure_id":53226,"section_number":"6.2-809","catch_line":"Bankers' banks","url":"\/6.2-809\/","token":"6.2\/II\/8\/2\/6.2-809","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-808\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 4 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 433; in 1966, chapter 584; in 1987, chapter 556; in 2010, chapter 794<\/a>.<\/p>","references":[{"id":374329,"section_number":"6.2-809","catch_line":"Bankers' banks","order_by":null,"url":"\/6.2-809\/"}],"refers_to":[{"id":346716,"section_number":"13.1-601","catch_line":"Short title","order_by":null,"url":"\/13.1-601\/"},{"id":346756,"section_number":"13.1-630","catch_line":"Corporate name","order_by":null,"url":"\/13.1-630\/"}],"permalink":{"id":1492381,"object_type":"law","relational_id":374328,"identifier":"6.2-808","token":"6.2\/II\/8\/2\/6.2-808","url":"\/6.2-808\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/6.2-808\/","token":"6.2\/II\/8\/2\/6.2-808","dublin_core":{"Title":"Incorporation; corporate powers","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-808","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> A bank<\/span> may be incorporated under the Virginia Stock Corporation Act (§ 13.1-601<\/a> et seq.), but need not comply with the provisions of subsection A of § 13.1-630<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Except as otherwise provided in this chapter, a bank<\/span> shall: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Have all the powers conferred on corporations, and be subject to all restrictions imposed on corporations, by the Virginia Stock Corporation Act; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Not issue<\/span> its shares for any consideration except money at least equal in amount to the par value of its shares; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Not issue<\/span> no-par stock. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINCORPORATION; CORPORATE POWERS (\u00a7 6.2-808)\n\nA. A bank may be incorporated under the Virginia Stock Corporation Act (§\n13.1-601 et seq.), but need not comply with the provisions of subsection A of\n§ 13.1-630.\n\nB. Except as otherwise provided in this chapter, a bank shall:\n\n 1. Have all the powers conferred on corporations, and be subject to all\n restrictions imposed on corporations, by the Virginia Stock Corporation Act;\n\n 2. Not issue its shares for any consideration except money at least equal in\n amount to the par value of its shares; and\n\n 3. Not issue no-par stock.\n\nHISTORY: Code 1950, \u00a7 6-10; 1956, c. 433; 1966, c. 584, \u00a7 6.1-6; 1987, c. 556;\n2010, c. 794.","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"}}