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Virginia Law

Code of Virginia

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Code of Virginia
Title 13.1. Corporations
Chapter 10. Virginia Nonstock Corporation Act
7/12/2026

§ 13.1-837.2. (Effective January 1, 2027) Termination and suspension.

A. A membership in a corporation may be terminated or suspended for the reasons and in the manner provided in the articles of incorporation or bylaws.

B. The articles of incorporation or bylaws may include a provision to permit a member to resign as a member.

C. A proceeding challenging a termination or suspension for any reason shall be commenced within one year after the effective date of the termination or suspension.

D. The termination or suspension of a member does not relieve the member from any obligations incurred or commitments made prior to the termination or suspension.

2026, cc. 393, 394.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.