Virginia Code Title 13.1. Corporations § 13.1-996. Corporation not authorized to receive money on deposit; deposit of funds of corporation
Current as of January 01, 2020 | Updated by FindLaw Staff
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No corporation organized under the provisions of this chapter shall at any time be authorized to receive money on deposit. The corporation shall not deposit any of its funds in any banking institution unless such institution has been designated as a depository by appropriate vote of the board of directors or executive committee.
Cite this article: FindLaw.com - Virginia Code Title 13.1. Corporations § 13.1-996. Corporation not authorized to receive money on deposit; deposit of funds of corporation - last updated January 01, 2020 | https://codes.findlaw.com/va/title-13-1-corporations/va-code-sect-13-1-996/
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