13.1-993 - Restrictions on amendments to articles of incorporation. - Virginia Statutes

§ 13.1-993. Restrictions on amendments to articles of incorporation.

No amendment to the articles of incorporation shall be made which increasesthe obligation of a member to make loans to the corporation or which makesany change in the principal amount, interest rate, maturity date, or in thesecurity or credit position of any outstanding loan made by a member to thecorporation or which affects the right of a member to withdraw frommembership or the voting rights of such member, without the consent of eachmember who would be affected by such amendment.

(Code 1950, § 13.1-150; 1960, c. 80; 1985, c. 522.)