{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/13.1-523.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/13.1-523.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/13.1-523.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/13.1-523.1.html"}],"law_id":346660,"edition_id":2,"section_id":346660,"structure_id":49775,"section_number":"13.1-523.1","catch_line":"Commission authority to regulate securities and investment advisory activities","history":"1997, c. 279; 2017, c. 754.","full_text":"A\n\nThe Commission shall have all the power, authority and jurisdiction reserved to or conferred upon the states by the federal National Securities Markets Improvement Act of 1996 (Pub. L. No. 104-290 (1996)) to regulate securities and investment advisory activities, including the authority to require the registration of persons and securities, the filing of documents, notices, reports and information, and the payment of fees, and to exercise its administrative, investigative, judicial and legislative powers with respect thereto. The Commission shall have the authority to make, amend and rescind such rules and forms in conformance with the National Securities Markets Improvement Act of 1996 as may be necessary for the regulation of securities and investment advisory activities and transactions within its jurisdiction.\n\nB\n\nThe Commission may by rule or order, with respect to any security that is a federal covered security under § 18(b)(4)(C) of the Securities Act of 1933, require the issuer to file a notice together with a consent to service of process where (i) the principal place of business of the issuer is in the Commonwealth or (ii) purchasers of 50 percent or more of the securities sold by the issuer pursuant to an offering made in reliance on § 18(b)(4)(C) of the Securities Act of 1933 are residents of the Commonwealth. The Commission may assess and collect in connection with any filing pursuant to this subsection a nonrefundable filing fee not to exceed $100.\n\n","order_by":null,"text":{"0":{"id":1292726,"text":"The Commission shall have all the power, authority and jurisdiction reserved to or conferred upon the states by the federal National Securities Markets Improvement Act of 1996 (Pub. L. No. 104-290 (1996)) to regulate securities and investment advisory activities, including the authority to require the registration of persons and securities, the filing of documents, notices, reports and information, and the payment of fees, and to exercise its administrative, investigative, judicial and legislative powers with respect thereto. The Commission shall have the authority to make, amend and rescind such rules and forms in conformance with the National Securities Markets Improvement Act of 1996 as may be necessary for the regulation of securities and investment advisory activities and transactions within its jurisdiction.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1292727,"text":"The Commission may by rule or order, with respect to any security that is a federal covered security under § 18(b)(4)(C) of the Securities Act of 1933, require the issuer to file a notice together with a consent to service of process where (i) the principal place of business of the issuer is in the Commonwealth or (ii) purchasers of 50 percent or more of the securities sold by the issuer pursuant to an offering made in reliance on § 18(b)(4)(C) of the Securities Act of 1933 are residents of the Commonwealth. The Commission may assess and collect in connection with any filing pursuant to this subsection a nonrefundable filing fee not to exceed $100.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":49775,"edition_id":2,"name":"Miscellaneous","identifier":"5","label":"article","depth":3,"order_by":4,"parent_id":49770,"metadata":{"child_laws":21,"child_structures":0},"date_created":"2026-08-02 02:14:47","date_modified":"2026-08-02 12:29:07","permalink":{"id":1376879,"object_type":"structure","relational_id":49775,"identifier":"5","token":"13.1\/5\/5","url":"\/13.1\/5\/5\/","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":346649,"structure_id":49775,"section_number":"13.1-514","catch_line":"Exemptions","url":"\/13.1-514\/","token":"13.1\/5\/5\/13.1-514","metadata":false},{"id":346647,"structure_id":49775,"section_number":"13.1-514.1","catch_line":"Exemption of certain securities by order of Commission","url":"\/13.1-514.1\/","token":"13.1\/5\/5\/13.1-514.1","metadata":false},{"id":346648,"structure_id":49775,"section_number":"13.1-514.2","catch_line":"Primacy of Virginia law to be maintained","url":"\/13.1-514.2\/","token":"13.1\/5\/5\/13.1-514.2","metadata":false},{"id":346650,"structure_id":49775,"section_number":"13.1-515","catch_line":"Advertising","url":"\/13.1-515\/","token":"13.1\/5\/5\/13.1-515","metadata":{"court_decisions":""}},{"id":346651,"structure_id":49775,"section_number":"13.1-516","catch_line":"Misleading filings","url":"\/13.1-516\/","token":"13.1\/5\/5\/13.1-516","metadata":false},{"id":346652,"structure_id":49775,"section_number":"13.1-517","catch_line":"Consent to service of process","url":"\/13.1-517\/","token":"13.1\/5\/5\/13.1-517","metadata":false},{"id":346654,"structure_id":49775,"section_number":"13.1-518","catch_line":"Investigations; confidentiality of information and documents","url":"\/13.1-518\/","token":"13.1\/5\/5\/13.1-518","metadata":false},{"id":346653,"structure_id":49775,"section_number":"13.1-518.1","catch_line":"Broker-dealers and investment advisors to file certain reports with Commission","url":"\/13.1-518.1\/","token":"13.1\/5\/5\/13.1-518.1","metadata":false},{"id":346655,"structure_id":49775,"section_number":"13.1-519","catch_line":"Injunctions","url":"\/13.1-519\/","token":"13.1\/5\/5\/13.1-519","metadata":false},{"id":346657,"structure_id":49775,"section_number":"13.1-520","catch_line":"Crimes","url":"\/13.1-520\/","token":"13.1\/5\/5\/13.1-520","metadata":false},{"id":346656,"structure_id":49775,"section_number":"13.1-520.1","catch_line":"Commission may transmit record or complaint to locality where violation occurred","url":"\/13.1-520.1\/","token":"13.1\/5\/5\/13.1-520.1","metadata":false},{"id":346658,"structure_id":49775,"section_number":"13.1-521","catch_line":"Violations punishable by the Commission","url":"\/13.1-521\/","token":"13.1\/5\/5\/13.1-521","metadata":false},{"id":346659,"structure_id":49775,"section_number":"13.1-522","catch_line":"Civil liabilities","url":"\/13.1-522\/","token":"13.1\/5\/5\/13.1-522","metadata":false},{"id":346661,"structure_id":49775,"section_number":"13.1-523","catch_line":"Rules and forms","url":"\/13.1-523\/","token":"13.1\/5\/5\/13.1-523","metadata":false},{"id":346660,"structure_id":49775,"section_number":"13.1-523.1","catch_line":"Commission authority to regulate securities and investment advisory activities","url":"\/13.1-523.1\/","token":"13.1\/5\/5\/13.1-523.1","metadata":false},{"id":346662,"structure_id":49775,"section_number":"13.1-524","catch_line":"Certain records of Commission available to public; admissibility of copies; destruction","url":"\/13.1-524\/","token":"13.1\/5\/5\/13.1-524","metadata":false},{"id":346664,"structure_id":49775,"section_number":"13.1-525","catch_line":"Official interpretations","url":"\/13.1-525\/","token":"13.1\/5\/5\/13.1-525","metadata":false},{"id":346663,"structure_id":49775,"section_number":"13.1-525.1","catch_line":"Fees to cover expense of regulation","url":"\/13.1-525.1\/","token":"13.1\/5\/5\/13.1-525.1","metadata":false},{"id":346665,"structure_id":49775,"section_number":"13.1-526","catch_line":"Transition","url":"\/13.1-526\/","token":"13.1\/5\/5\/13.1-526","metadata":{"court_decisions":{"0":{"name":"Trigon Insurance v. United States","case_number":"3:00cv365","citation":"215 F. Supp. 2d 687","date":"2002-08-09","url":"https:\/\/www.courtlistener.com\/opinion\/2503699\/trigon-insurance-v-united-states\/","abstract":" .\u202f.\u202f. 215 F.Supp.2d 687 (2002) .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"}}}},{"id":346670,"structure_id":49775,"section_number":"13.1-527","catch_line":"Short title","url":"\/13.1-527\/","token":"13.1\/5\/5\/13.1-527","metadata":false},{"id":346666,"structure_id":49775,"section_number":"13.1-527.01","catch_line":"Repealed","url":"\/13.1-527.01\/","token":"13.1\/5\/5\/13.1-527.01","metadata":false}],"previous_section":{"id":346661,"structure_id":49775,"section_number":"13.1-523","catch_line":"Rules and forms","url":"\/13.1-523\/","token":"13.1\/5\/5\/13.1-523","metadata":false},"next_section":{"id":346662,"structure_id":49775,"section_number":"13.1-524","catch_line":"Certain records of Commission available to public; admissibility of copies; destruction","url":"\/13.1-524\/","token":"13.1\/5\/5\/13.1-524","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-523.1\/","history_text":"

This law was first created in 1997. The record of its establishment is cataloged in chapter 279<\/a> 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. 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 2017, chapter 754<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":1376937,"object_type":"law","relational_id":346660,"identifier":"13.1-523.1","token":"13.1\/5\/5\/13.1-523.1","url":"\/13.1-523.1\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/13.1-523.1\/","token":"13.1\/5\/5\/13.1-523.1","dublin_core":{"Title":"Commission authority to regulate securities and investment advisory activities","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-523.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> The Commission shall have all the power, authority and jurisdiction<\/span> reserved to or conferred upon the states by the federal National Securities Markets Improvement Act of 1996 (Pub. L. No. 104-290 (1996)) to regulate securities and investment advisory activities, including the authority to require the registration of persons and securities, the filing of documents, notices, reports and information, and the payment of fees, and to exercise its administrative, investigative, judicial and legislative powers with respect thereto. The Commission shall have the authority to make, amend<\/span> and rescind such rules and forms in conformance with the National Securities Markets Improvement Act of 1996 as may be necessary for the regulation of securities and investment advisory activities and transactions within its jurisdiction<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> The Commission may by rule or order<\/span>, with respect to any security that is a federal covered security under § 18(b)(4)(C) of the Securities Act of 1933, require the issuer to file a notice together with a consent to service of process<\/span> where (i) the principal place of business of the issuer is in the Commonwealth or (ii) purchasers of 50 percent or more of the securities sold by the issuer pursuant to an offering made in reliance on § 18(b)(4)(C) of the Securities Act of 1933 are residents of the Commonwealth. The Commission may assess and collect in connection with any filing pursuant to this subsection a nonrefundable filing fee not to exceed $100. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCOMMISSION AUTHORITY TO REGULATE SECURITIES AND INVESTMENT ADVISORY ACTIVITIES\n(\u00a7 13.1-523.1)\n\nA. The Commission shall have all the power, authority and jurisdiction reserved\nto or conferred upon the states by the federal National Securities Markets\nImprovement Act of 1996 (Pub. L. No. 104-290 (1996)) to regulate securities and\ninvestment advisory activities, including the authority to require the\nregistration of persons and securities, the filing of documents, notices,\nreports and information, and the payment of fees, and to exercise its\nadministrative, investigative, judicial and legislative powers with respect\nthereto. The Commission shall have the authority to make, amend and rescind such\nrules and forms in conformance with the National Securities Markets Improvement\nAct of 1996 as may be necessary for the regulation of securities and investment\nadvisory activities and transactions within its jurisdiction.\n\nB. The Commission may by rule or order, with respect to any security that is a\nfederal covered security under § 18(b)(4)(C) of the Securities Act of 1933,\nrequire the issuer to file a notice together with a consent to service of\nprocess where (i) the principal place of business of the issuer is in the\nCommonwealth or (ii) purchasers of 50 percent or more of the securities sold by\nthe issuer pursuant to an offering made in reliance on § 18(b)(4)(C) of the\nSecurities Act of 1933 are residents of the Commonwealth. The Commission may\nassess and collect in connection with any filing pursuant to this subsection a\nnonrefundable filing fee not to exceed $100.\n\nHISTORY: 1997, c. 279; 2017, c. 754.","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"}}