13.1-318 - Amendments to the articles of incorporation. - Virginia Statutes

§ 13.1-318. Amendments to the articles of incorporation.

An association may amend its articles of incorporation by the affirmativevote of two-thirds of the members voting thereon at any regular meeting, orat a special meeting called for the purpose. Notice of the proposed amendmentand of the time and place of holding such meetings shall be delivered to eachmember, or mailed to his last known address shown by the books of theassociation, at least ten days prior to any such meetings. No amendmentaffecting the priority or preferential rights of any outstanding nonvotingstock shall be adopted until the written consent of two-thirds of the holdersof such outstanding nonvoting stock has been obtained. Triplicate originalsof the articles of amendment duly signed and acknowledged together with thefiling fee required to be paid shall be delivered to the Commission. If theCommission finds that the articles comply with the requirements of law andthat all required fees have been paid, it shall by order issue a certificateof amendment, which shall be admitted to record in its office. Upon theissuance of such certificate, it shall become effective in accordance withits terms. One original counterpart of the articles of amendment, togetherwith the certificate of amendment issued by the Commission, shall becertified by the Commission to the Commissioner of Agriculture and ConsumerServices for filing and another counterpart shall be certified to theDirector of the State Agricultural Extension Division for filing.

(Code 1950, § 13-258; 1956, c. 428.)