56-13 - Effect of dissolution of public service corporation. - Virginia Statutes

§ 56-13. Effect of dissolution of public service corporation.

When any public service corporation shall expire or be dissolved, or itscorporate rights and privileges shall have ceased, all of its works andproperty, and debts due to it, shall be subject to the payment of debts dueby it, and then to distribution among the members or stockholders, accordingto their respective interests. Such corporation may sue and be sued as beforefor the purpose of collecting debts due to it, prosecuting rights underprevious contracts with it, enforcing its liability, and distributing theproceeds of its works, property, and debts among those entitled thereto.Notice to or process against such company, if necessary in any suit or civilproceeding, shall be sufficiently served by publication thereof once a weekfor four successive weeks in some newspaper published in the county orcorporation wherein the suit or proceeding is; or, if there be no newspaperpublished in such county or corporation, in a newspaper published in someneighboring county or corporation in this Commonwealth, to be designated bythe clerk of the court in which such suit or proceeding is.

(Code 1919, § 3899.)