13.1-705 - Authority to amend articles of incorporation. - Virginia Statutes

§ 13.1-705. Authority to amend articles of incorporation.

A. A corporation may amend its articles of incorporation at any time to addor change a provision that is required or permitted in the articles or todelete a provision not required in the articles. Whether a provision isrequired or permitted in the articles of incorporation is determined as ofthe effective date of the amendment.

B. A shareholder of the corporation does not have a vested property rightresulting from any provision in the articles of incorporation, includingprovisions relating to management, control, capital structure, dividendentitlement, purpose, or duration of the corporation.

(Code 1950, § 13.1-55; 1956, c. 428; 1958, c. 564; 1985, c. 522.)