A. No person, firm, corporation or association, domestic or foreign, hereafter commencing business in this Commonwealth shall use the word "cooperative" or any abbreviation thereof, as a part of its corporate or business name unless it has complied with the provisions of this Act or some other statute of this Commonwealth relating to cooperative associations. A foreign association organized under and complying with the cooperative law of the state of such association's creation shall be entitled to use of term "cooperative" in this Commonwealth if it has obtained the privilege of doing business in this Commonwealth under any cooperative statute of this Commonwealth. Any person violating the provisions of this section shall be deemed guilty of a misdemeanor and shall be subject to a fine not exceeding fifty dollars. For the purpose of this section, each day's violation may be considered a separate offense.
B. Subsection A shall not apply to a corporation or association, domestic or foreign, whose purpose is to promote housing opportunities or to represent, coordinate and further the purposes of groups organized to construct, operate, or promote housing, and such corporation or association may use the term "cooperative" as part of its corporate or other business name or title.
Code 1950, § 13-289; 1956, c. 428; 1993, c. 822.
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