Code of Virginia § 13.1-988. Acquisition, transfer, etc., of securities and shares of corporation.
90 words·~1 min read·
/va/title-13-1/chapter-11/13-1-988·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Notwithstanding any other provision of law, any person, corporation, including a public service corporation, financial institution or railroad may acquire, hold, sell, assign, transfer, mortgage, pledge or otherwise dispose of any bonds, notes, debentures, securities or other evidences of indebtedness, or the shares of capital stock of a corporation created hereunder, provided that the amount of capital stock which may be acquired by any member of such corporation shall not exceed ten percent of the loan limit of such member.
Code 1950, § 13.1-146; 1960, c. 80; 1985, c. 522.