13.1-308 - Limitation of use of "cooperative" in corporate name.
§ 13.1-308. Limitation of use of "cooperative" in corporate name.
A. No corporation or association organized or doing business for profit inthis Commonwealth shall be entitled to use the term "cooperative" as partof its corporate or other business name or title, unless it has complied withthe provisions of this article or of Article 2 (§ 13.1-312 et seq.) of thischapter or of Chapter 9.1 (§ 56-231.15 et seq.) or Chapter 16 (§ 56-485 etseq.) of Title 56 or of any other statute providing for cooperativecorporations or associations now existing or hereafter enacted; and anycorporation or association violating the provisions of this section may beenjoined from doing business under such name at the instance of anystockholder or member of any corporation or association legally organizedunder any law giving it the right to use the word cooperative as a part ofits corporate or business name.
B. Subsection A shall not apply to a corporation or association, domestic orforeign, whose purpose is to promote housing opportunities or to represent,coordinate and further the purposes of groups organized to construct,operate, or promote housing, and such corporation or association may use theterm "cooperative" as part of its corporate or other business name or title.
(Code 1950, § 13-245; 1950, c. 300; 1956, c. 428; 1993, c. 822.)