{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/13.1-513.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/13.1-513.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/13.1-513.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/13.1-513.html"}],"law_id":346646,"edition_id":2,"section_id":346646,"structure_id":49774,"section_number":"13.1-513","catch_line":"Stop orders","history":"1956, c. 428; 1960, c. 71.","full_text":"a\n\nThe Commission may issue a stop order denying effectiveness to, or revoking the effectiveness of, any registration statement if it finds that such an order is in the public interest and that:\n\n1\n\nThe registration statement together with any amendments, or any report filed by the registrant or any other document filed in connection with the registration statement contained any statement which was, at the time and in the circumstances in which it was made, false or misleading with respect to any material fact or omitted to state any material fact required to be stated therein;\n\n2\n\nThe applicant or registrant or any agent, partner, officer or director of the applicant or registrant (or any person occupying a similar status or performing similar functions) or any person directly or indirectly controlling or controlled by the applicant or registrant has violated, in connection with the offering, any provision of this chapter or of any other law applicable to the offering, or any rule, order or condition lawfully imposed under this chapter;\n\n3\n\nAny person specified in subdivision (2) of this subsection has failed to furnish any information lawfully requested by the Commission;\n\n4\n\nThe right to sell the securities which are the subject of the registration statement has been denied or revoked or is suspended under any federal act applicable to the offering (and such denial, revocation or suspension is still in effect);\n\n5\n\nThe issuer is insolvent, either in the sense that its liabilities exceed its assets or in the sense that it cannot meet its obligations as they mature;\n\n6\n\nThe issuer’s business includes or probably will include activities which are forbidden by law;\n\n7\n\nThe offering has worked or tended to work a fraud upon investors or probably will so operate; or\n\n8\n\nWhere a security is to be or has been registered by notification, it is not eligible for such registration.\n\nb\n\nNo stop order shall be entered without reasonable notice to the applicant or registrant.\n\nc\n\nIn any proceeding under this section, the Commission may refrain from issuing or, after issuing, may revoke a stop order on condition that the persons against whom it is directed correct the matters complained of on which it is based.\n\n","order_by":null,"text":{"0":{"id":1292638,"text":"The Commission may issue a stop order denying effectiveness to, or revoking the effectiveness of, any registration statement if it finds that such an order is in the public interest and that:","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":1292639,"text":"The registration statement together with any amendments, or any report filed by the registrant or any other document filed in connection with the registration statement contained any statement which was, at the time and in the circumstances in which it was made, false or misleading with respect to any material fact or omitted to state any material fact required to be stated therein;","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"a2"},"2":{"id":1292640,"text":"The applicant or registrant or any agent, partner, officer or director of the applicant or registrant (or any person occupying a similar status or performing similar functions) or any person directly or indirectly controlling or controlled by the applicant or registrant has violated, in connection with the offering, any provision of this chapter or of any other law applicable to the offering, or any rule, order or condition lawfully imposed under this chapter;","type":"section","prefixes":["a","2"],"prefix":"2","entire_prefix":"a2","prefix_anchor":"a2","level":2,"prior_prefix":"a1","next_prefix":"a3"},"3":{"id":1292641,"text":"Any person specified in subdivision (2) of this subsection has failed to furnish any information lawfully requested by the Commission;","type":"section","prefixes":["a","3"],"prefix":"3","entire_prefix":"a3","prefix_anchor":"a3","level":2,"prior_prefix":"a2","next_prefix":"a4"},"4":{"id":1292642,"text":"The right to sell the securities which are the subject of the registration statement has been denied or revoked or is suspended under any federal act applicable to the offering (and such denial, revocation or suspension is still in effect);","type":"section","prefixes":["a","4"],"prefix":"4","entire_prefix":"a4","prefix_anchor":"a4","level":2,"prior_prefix":"a3","next_prefix":"a5"},"5":{"id":1292643,"text":"The issuer is insolvent, either in the sense that its liabilities exceed its assets or in the sense that it cannot meet its obligations as they mature;","type":"section","prefixes":["a","5"],"prefix":"5","entire_prefix":"a5","prefix_anchor":"a5","level":2,"prior_prefix":"a4","next_prefix":"a6"},"6":{"id":1292644,"text":"The issuer’s business includes or probably will include activities which are forbidden by law;","type":"section","prefixes":["a","6"],"prefix":"6","entire_prefix":"a6","prefix_anchor":"a6","level":2,"prior_prefix":"a5","next_prefix":"a7"},"7":{"id":1292645,"text":"The offering has worked or tended to work a fraud upon investors or probably will so operate; or","type":"section","prefixes":["a","7"],"prefix":"7","entire_prefix":"a7","prefix_anchor":"a7","level":2,"prior_prefix":"a6","next_prefix":"a8"},"8":{"id":1292646,"text":"Where a security is to be or has been registered by notification, it is not eligible for such registration.","type":"section","prefixes":["a","8"],"prefix":"8","entire_prefix":"a8","prefix_anchor":"a8","level":2,"prior_prefix":"a7","next_prefix":"b"},"9":{"id":1292647,"text":"No stop order shall be entered without reasonable notice to the applicant or registrant.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a8","next_prefix":"c"},"10":{"id":1292648,"text":"In any proceeding under this section, the Commission may refrain from issuing or, after issuing, may revoke a stop order on condition that the persons against whom it is directed correct the matters complained of on which it is based.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b"}},"ancestry":[{"id":49774,"edition_id":2,"name":"Registration of Securities","identifier":"4","label":"article","depth":3,"order_by":3,"parent_id":49770,"metadata":{"child_laws":7,"child_structures":0},"date_created":"2026-08-02 02:14:46","date_modified":"2026-08-02 12:29:06","permalink":{"id":1376849,"object_type":"structure","relational_id":49774,"identifier":"4","token":"13.1\/5\/4","url":"\/13.1\/5\/4\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49770,"edition_id":2,"name":"Securities Act","identifier":"5","label":"chapter","depth":2,"order_by":3,"parent_id":49726,"metadata":{"child_laws":40,"child_structures":6},"date_created":"2026-08-02 02:14:45","date_modified":"2026-08-02 12:29:05","permalink":{"id":1376805,"object_type":"structure","relational_id":49770,"identifier":"5","token":"13.1\/5","url":"\/13.1\/5\/","edition_id":2,"permalink":0,"preferred":1}},{"id":49726,"edition_id":2,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":44,"parent_id":null,"metadata":{"child_laws":894,"child_structures":104},"date_created":"2026-08-02 02:14:01","date_modified":"2026-08-02 12:29:04","permalink":{"id":1374495,"object_type":"structure","relational_id":49726,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":346640,"structure_id":49774,"section_number":"13.1-507","catch_line":"Registration requirement; exemptions","url":"\/13.1-507\/","token":"13.1\/5\/4\/13.1-507","metadata":false},{"id":346641,"structure_id":49774,"section_number":"13.1-508","catch_line":"Registration by notification","url":"\/13.1-508\/","token":"13.1\/5\/4\/13.1-508","metadata":false},{"id":346642,"structure_id":49774,"section_number":"13.1-509","catch_line":"Registration by coordination","url":"\/13.1-509\/","token":"13.1\/5\/4\/13.1-509","metadata":false},{"id":346643,"structure_id":49774,"section_number":"13.1-510","catch_line":"Registration by qualification","url":"\/13.1-510\/","token":"13.1\/5\/4\/13.1-510","metadata":false},{"id":346644,"structure_id":49774,"section_number":"13.1-511","catch_line":"Effectiveness and reports","url":"\/13.1-511\/","token":"13.1\/5\/4\/13.1-511","metadata":false},{"id":346645,"structure_id":49774,"section_number":"13.1-512","catch_line":"Repealed","url":"\/13.1-512\/","token":"13.1\/5\/4\/13.1-512","metadata":false},{"id":346646,"structure_id":49774,"section_number":"13.1-513","catch_line":"Stop orders","url":"\/13.1-513\/","token":"13.1\/5\/4\/13.1-513","metadata":false}],"previous_section":{"id":346645,"structure_id":49774,"section_number":"13.1-512","catch_line":"Repealed","url":"\/13.1-512\/","token":"13.1\/5\/4\/13.1-512","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-513\/","history_text":"

This law was first created in 1956. The record of its establishment is cataloged in chapter 428 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1956 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 1960, chapter 71.<\/p>","references":false,"refers_to":false,"permalink":{"id":1376875,"object_type":"law","relational_id":346646,"identifier":"13.1-513","token":"13.1\/5\/4\/13.1-513","url":"\/13.1-513\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/13.1-513\/","token":"13.1\/5\/4\/13.1-513","dublin_core":{"Title":"Stop orders","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-513","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> The Commission may issue<\/span> a stop order<\/span> denying effectiveness to, or revoking the effectiveness of, any registration statement if it finds that such an order<\/span> is in the public interest and that: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The registration statement together with any amendments, or any report filed by the registrant or any other document filed in connection with the registration statement contained any statement which was, at the time and in the circumstances in which it was made, false or misleading with respect to any material<\/span> fact<\/span> or omitted to state any material<\/span> fact<\/span> required to be stated therein; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The applicant or registrant or any agent, partner, officer or director of the applicant or registrant (or any person occupying a similar status or performing similar functions) or any person directly or indirectly controlling or controlled by the applicant or registrant has violated, in connection with the offering, any provision of this chapter or of any other law<\/span> applicable to the offering, or any rule, order<\/span> or condition lawfully imposed under this chapter; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Any person specified in subdivision (2) of this subsection has failed to furnish any information lawfully requested by the Commission; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The right to sell the securities which are the subject of the registration statement has been denied or revoked or is suspended under any federal act applicable to the offering (and such denial, revocation<\/span> or suspension is still in effect); <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The issuer is insolvent, either in the sense that its liabilities exceed its assets<\/span> or in the sense that it cannot meet its obligations as they mature; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> The issuer’s business includes or probably will include activities which are forbidden by law<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> The offering has worked or tended to work a fraud<\/span> upon investors or probably will so operate; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Where a security is to be or has been registered by notification, it is not eligible for such registration. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> No stop order<\/span> shall be entered without reasonable notice to the applicant or registrant. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> In any proceeding under this section, the Commission may refrain from issuing or, after issuing, may revoke a stop order<\/span> on condition that the persons against whom it is directed correct the matters complained of on which it is based. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSTOP ORDERS (\u00a7 13.1-513)\n\na. The Commission may issue a stop order denying effectiveness to, or revoking\nthe effectiveness of, any registration statement if it finds that such an order\nis in the public interest and that:\n\n 1. The registration statement together with any amendments, or any report\n filed by the registrant or any other document filed in connection with the\n registration statement contained any statement which was, at the time and in\n the circumstances in which it was made, false or misleading with respect to\n any material fact or omitted to state any material fact required to be stated\n therein;\n\n 2. The applicant or registrant or any agent, partner, officer or director of\n the applicant or registrant (or any person occupying a similar status or\n performing similar functions) or any person directly or indirectly controlling\n or controlled by the applicant or registrant has violated, in connection with\n the offering, any provision of this chapter or of any other law applicable to\n the offering, or any rule, order or condition lawfully imposed under this\n chapter;\n\n 3. Any person specified in subdivision (2) of this subsection has failed to\n furnish any information lawfully requested by the Commission;\n\n 4. The right to sell the securities which are the subject of the registration\n statement has been denied or revoked or is suspended under any federal act\n applicable to the offering (and such denial, revocation or suspension is still\n in effect);\n\n 5. The issuer is insolvent, either in the sense that its liabilities exceed\n its assets or in the sense that it cannot meet its obligations as they mature;\n\n 6. The issuer’s business includes or probably will include activities\n which are forbidden by law;\n\n 7. The offering has worked or tended to work a fraud upon investors or\n probably will so operate; or\n\n 8. Where a security is to be or has been registered by notification, it is not\n eligible for such registration.\n\nb. No stop order shall be entered without reasonable notice to the applicant or\nregistrant.\n\nc. In any proceeding under this section, the Commission may refrain from issuing\nor, after issuing, may revoke a stop order on condition that the persons against\nwhom it is directed correct the matters complained of on which it is based.\n\nHISTORY: 1956, c. 428; 1960, c. 71.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}