A. Any number of persons, not less than five, may, under the provisions of Article 3 (§ 13.1-618 et seq.) of Chapter 9 or Article 3 (§ 13.1-818 et seq.) of Chapter 10, associate themselves together as a cooperative association, society, company or exchange, for the purpose of (i) conducting any housing, agricultural, fishing, dairy, mercantile, merchandise, brokerage, water, sewer, manufacturing, service or mechanical business on the cooperative plan or (ii) representing or providing financing for cooperative associations, societies, companies, or exchanges organized pursuant to the laws of this Commonwealth or any other state, provided that the word "cooperative" shall be included as a part of the name. Except for a cooperative association organized to conduct business as a water or sewer company, no cooperative association organized under this article shall conduct any business in this Commonwealth as a public service company or exercise any privileges of such company.
B. The provisions of Chapter 9 (§ 13.1-601 et seq.) or 10 (§ 13.1-801 et seq.), as the case may be, shall apply to cooperative associations created under this section or subject to the provisions of this article, except so far as the same are in conflict with the following sections of this article which shall be applicable only to such cooperative associations, and except that no stock cooperative association shall issue stock without nominal or par value.
C. To the extent that the application of the provisions of this article to any worker cooperative established under Article 3 (§ 13.1-346 et seq.) conflicts with the provisions of Article 3, the provisions of Article 3 shall control.
Code 1950, § 13-238; 1952, c. 668; 1956, c. 428; 1986, c. 363; 1992, cc. 155, 653; 1994, c. 217; 2020, c. 673.
Structure Code of Virginia
Chapter 3 - Cooperative Associations
§ 13.1-301. Organization of cooperative associations; purposes; name; par value stock required
§ 13.1-301.1. Amendments to articles of incorporation
§ 13.1-301.2. Adoption, change or repeal of bylaws; subject matter
§ 13.1-302. Limitation of individual stockholding
§ 13.1-303. Investment in other stock
§ 13.1-304. Purchase of business by issue of shares of stock
§ 13.1-305. Rights of subscribers before full payment
§ 13.1-306. Distribution of earnings
§ 13.1-307. Permissible limitation of stock ownership or voting rights
§ 13.1-308. Limitation of use of "cooperative" in corporate name
§ 13.1-309. Other cooperatives may come under article
§ 13.1-309.1. Foreign cooperatives
§ 13.1-310. Cooperative associations may give certain liens on rotating stocks
§ 13.1-311.1. Provisions relating to dissolution of and revocation of certificates of associations
§ 13.1-312. Liberal construction of article
§ 13.1-314. Qualification of incorporators
§ 13.1-316. Articles of incorporation
§ 13.1-317. Filing and recording articles of incorporation
§ 13.1-318. Amendments to the articles of incorporation
§ 13.1-322. Membership or voting stock certificates; transfers; dividends; nonvoting stock
§ 13.1-323. General and special meetings; how called
§ 13.1-324. Directors generally; executive committee
§ 13.1-325. Removal of director
§ 13.1-326. Officers generally
§ 13.1-327. Removal of officer
§ 13.1-329. Marketing contracts; enforcement; inducing breach; spreading false reports
§ 13.1-330. Recordation of marketing contracts
§ 13.1-331. Associations are not in restraint of trade
§ 13.1-332. Voluntary dissolution
§ 13.1-334. Application to existing associations
§ 13.1-336. Limitations of the use of the word "cooperative."
§ 13.1-337. Foreign associations
§ 13.1-338. Purchasing business of other associations, persons, firms or corporations; stock issued
§ 13.1-339. Merger or consolidation
§ 13.1-340. Sale, mortgage or other disposition of assets
§ 13.1-343. Application of general corporation laws
§ 13.1-344. Existing associations continued
§ 13.1-345. Verification no longer required; signing instrument containing misstatement as perjury
§ 13.1-347. Formation of worker cooperative; purpose
§ 13.1-349. Application of other laws
§ 13.1-350. Revocation of election to be governed as worker cooperative; limitation on mergers
§ 13.1-351. Qualifications of members; membership shares
§ 13.1-353. Net earnings or losses; apportionment, distribution, and payment
§ 13.1-354. Internal capital accounts; redemption of shares; collective reserve account