State Codes and Statutes
Statutes > Virginia > Title-13-1 > Chapter-10 > 13-1-916§ 13.1-916. Reinstatement of a corporation that has ceased to exist.
A corporation that has ceased to exist may apply to the Commission forreinstatement within five years thereafter unless the corporate existence wasterminated by order of the Commission (i) upon a finding that the corporationhas continued to exceed or abuse the authority conferred upon it by law or(ii) entered pursuant to § 13.1-911 and the circuit court's decree directingdissolution contains no provision of reinstatement of corporate existence.The Commission shall enter an order reinstating the corporate existence uponreceiving an annual report together with payment of a reinstatement fee of$10 plus all registration fees and penalties that were due before thecorporation ceased to exist and that would have become due thereafter if thecorporation had not ceased to exist. An annual report need not be submittedif such a report previously was filed during the calendar year in whichreinstatement is sought. The application for reinstatement may be by lettersigned by an officer or director of the corporation or may be by affidavitsigned by any member stating that after diligent search by such member noofficer or director could be found. The Commission shall assess the amountsthat would have become due. Upon the entry by the Commission of an order ofreinstatement, the corporate existence shall be deemed to have continued fromthe date of termination of corporate existence, and any liability incurred bythe corporation or a director, officer, or other agent after termination ofcorporate existence and before the reinstatement shall be determined as ifthe termination of corporate existence had never occurred. If the name of acorporation that has ceased to exist is not distinguishable upon the recordsof the Commission, the reinstated corporation shall not engage in businessuntil it has amended its articles of incorporation to change its name to aname that is distinguishable upon the records of the Commission.
(Code 1950, § 13.1-255; 1956, c. 428; 1958, c. 564; 1976, c. 350; 1985, c.522; 1986, c. 234; 1988, c. 405; 2004, c. 601; 2005, c. 379; 2006, c. 663;2007, c. 925.)
