Virginia § 56-499 - Purchase of own obligations
Full text of Virginia Code of Virginia § 56-499 — Purchase of own obligations, with citation guidance and answers to common questions.
§ 56-499. Purchase of own obligations
A cooperative shall have power out of any funds available therefor to purchase any obligations issued by it at a price not exceeding the principal amount thereof and accrued interest thereon. All bonds so purchased shall be cancelled.
1950, p. 593; 1956, c. 434.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 56-499
What does Code of Virginia § 56-499 cover?
Section 56-499 ("Purchase of own obligations") 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 § 56-499?
A common citation format is "Code of Virginia § 56-499" (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 § 56-499 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.