§ 6.1-330.52. (Repealed effective October 1, 2010) Issuance of currency;contracts and securities obtained by illegal currency; capital stock ofcertain companies, etc., vested in Commonwealth; proceedings to recover suchstock; liability.
A. 1. No individual or entity unless authorized by law shall:
a. Issue, with intent that the same be circulated as currency, any note,bill, scrip, or other paper or thing, or
b. Otherwise deal, trade or carry on business as a bank of circulation.
2. All contracts made for forming any such entity as described in subdivision1 of this subsection shall be void.
B. All contracts and securities that may originate from, or be made orobtained in whole or in part by means of any illegal currency dealing, tradeor business, shall be void. If any person shall pay any money or othervaluable thing on account of any such contract or security, such person orhis or its representative, or assignee, may, by suit brought within one yearafter such payment, recover back the amount or value of such payment from theperson or such representative to whom, or to whose use, it may have been made.
C. The capital stock of every such entity, whether paid up or merelysubscribed, shall belong to the Commonwealth. The Attorney General, wheneverinformed of the existence of any such entity, shall institute a suit in theCircuit Court of the City of Richmond, for the purpose of recovering suchcapital stock. In such suit, all or any of the members of such entity, andany of its officers, agents, or managers, may be made defendants, andcompelled to exhibit all their books and papers, and an account of everythingnecessary to enable the court to enter a proper order. But no disclosure madeby a defendant in such suit, and no book or paper exhibited by him in answerto the bill, or under the order of the court, shall be used as evidenceagainst him in any case at law.
D. Every member of any such entity, made defendant in any such suit, shall beheld liable to the Commonwealth for his proportion of the capital stock insuch entity held by him, or for his use or benefit, at the institution ofsuch suit, or at the time of the order. Such order against any defendantshall be a bar to a proceeding against him for any act done in violation ofsubsection A of this section.
§ 6.1-330.52. (Repealed effective October 1, 2010) Issuance of currency;contracts and securities obtained by illegal currency; capital stock ofcertain companies, etc., vested in Commonwealth; proceedings to recover suchstock; liability.
A. 1. No individual or entity unless authorized by law shall:
a. Issue, with intent that the same be circulated as currency, any note,bill, scrip, or other paper or thing, or
b. Otherwise deal, trade or carry on business as a bank of circulation.
2. All contracts made for forming any such entity as described in subdivision1 of this subsection shall be void.
B. All contracts and securities that may originate from, or be made orobtained in whole or in part by means of any illegal currency dealing, tradeor business, shall be void. If any person shall pay any money or othervaluable thing on account of any such contract or security, such person orhis or its representative, or assignee, may, by suit brought within one yearafter such payment, recover back the amount or value of such payment from theperson or such representative to whom, or to whose use, it may have been made.
C. The capital stock of every such entity, whether paid up or merelysubscribed, shall belong to the Commonwealth. The Attorney General, wheneverinformed of the existence of any such entity, shall institute a suit in theCircuit Court of the City of Richmond, for the purpose of recovering suchcapital stock. In such suit, all or any of the members of such entity, andany of its officers, agents, or managers, may be made defendants, andcompelled to exhibit all their books and papers, and an account of everythingnecessary to enable the court to enter a proper order. But no disclosure madeby a defendant in such suit, and no book or paper exhibited by him in answerto the bill, or under the order of the court, shall be used as evidenceagainst him in any case at law.
D. Every member of any such entity, made defendant in any such suit, shall beheld liable to the Commonwealth for his proportion of the capital stock insuch entity held by him, or for his use or benefit, at the institution ofsuch suit, or at the time of the order. Such order against any defendantshall be a bar to a proceeding against him for any act done in violation ofsubsection A of this section.
§ 6.1-330.52. (Repealed effective October 1, 2010) Issuance of currency;contracts and securities obtained by illegal currency; capital stock ofcertain companies, etc., vested in Commonwealth; proceedings to recover suchstock; liability.
A. 1. No individual or entity unless authorized by law shall:
a. Issue, with intent that the same be circulated as currency, any note,bill, scrip, or other paper or thing, or
b. Otherwise deal, trade or carry on business as a bank of circulation.
2. All contracts made for forming any such entity as described in subdivision1 of this subsection shall be void.
B. All contracts and securities that may originate from, or be made orobtained in whole or in part by means of any illegal currency dealing, tradeor business, shall be void. If any person shall pay any money or othervaluable thing on account of any such contract or security, such person orhis or its representative, or assignee, may, by suit brought within one yearafter such payment, recover back the amount or value of such payment from theperson or such representative to whom, or to whose use, it may have been made.
C. The capital stock of every such entity, whether paid up or merelysubscribed, shall belong to the Commonwealth. The Attorney General, wheneverinformed of the existence of any such entity, shall institute a suit in theCircuit Court of the City of Richmond, for the purpose of recovering suchcapital stock. In such suit, all or any of the members of such entity, andany of its officers, agents, or managers, may be made defendants, andcompelled to exhibit all their books and papers, and an account of everythingnecessary to enable the court to enter a proper order. But no disclosure madeby a defendant in such suit, and no book or paper exhibited by him in answerto the bill, or under the order of the court, shall be used as evidenceagainst him in any case at law.
D. Every member of any such entity, made defendant in any such suit, shall beheld liable to the Commonwealth for his proportion of the capital stock insuch entity held by him, or for his use or benefit, at the institution ofsuch suit, or at the time of the order. Such order against any defendantshall be a bar to a proceeding against him for any act done in violation ofsubsection A of this section.
