Virginia § 56-56 - Issue of securities a special privilege subject to regulation
Full text of Virginia Code of Virginia § 56-56 — Issue of securities a special privilege subject to regulation, with citation guidance and answers to common questions.
§ 56-56. Issue of securities a special privilege subject to regulation
The power of public service companies to issue stocks and stock certificates or other evidences of interest or ownership, and bonds, notes and other evidences of indebtedness and to create liens on their property situated within this Commonwealth is a special privilege, the right of supervision, regulation, restriction, and control of which is and shall continue to be vested in the Commonwealth; and such power shall be exercised as provided by law and under such rules and regulations as the Commission may prescribe; provided that this section shall not apply to obligations incurred for purchase of machinery or equipment where such obligations are secured by conditional sales contracts.
1934, p. 221; Michie Code 1942, § 4073(2); 1958, c. 11.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 56-56
What does Code of Virginia § 56-56 cover?
Section 56-56 ("Issue of securities a special privilege subject to regulation") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 56-56?
A common citation format is "Code of Virginia § 56-56" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 56-56 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.