13.1-336 - Limitations of the use of the word "cooperative.". - Virginia Statutes

§ 13.1-336. Limitations of the use of the word "cooperative.".

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 orbusiness name unless it has complied with the provisions of this Act or someother statute of this Commonwealth relating to cooperative associations. Aforeign association organized under and complying with the cooperative law ofthe state of such association's creation shall be entitled to use of term"cooperative" in this Commonwealth if it has obtained the privilege ofdoing business in this Commonwealth under any cooperative statute of thisCommonwealth. Any person violating the provisions of this section shall bedeemed guilty of a misdemeanor and shall be subject to a fine not exceedingfifty dollars. For the purpose of this section, each day's violation may beconsidered a separate offense.

B. Subsection A shall not apply to a corporation or association, domestic orforeign, 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 theterm "cooperative" as part of its corporate or other business name or title.

(Code 1950, § 13-289; 1956, c. 428; 1993, c. 822.)