(Effective January 1, 2027) Requirement for and duties of board of directors

Va. Code Ann. § 13.1-853
in effect
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A. Except as provided in an agreement authorized by § 13.1-852.1 , each corporation shall have a board of directors. B. All corporate powers shall be exercised by or under the authority of the board of directors, and the business and affairs of the corporation shall be managed under the direction and subject to the oversight of the board of directors, subject to any limitation set forth in the articles of incorporation or in an agreement authorized by § 13.1-852.1 . Code 1950, § 13.1-220; 1956, c. 428; 1983, c. 393; 1985, c. 522; 2007, c. 925 ; 2026, cc. 393 , 394 .
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/13.1-853/Fetched: 10/16/2026

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