{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/56-55.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/56-55.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/56-55.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/56-55.html"}],"law_id":370577,"edition_id":2,"section_id":370577,"structure_id":52780,"section_number":"56-55","catch_line":"Definitions","history":"1934, p. 221; Michie Code 1942, \u00a7\u00a7 4073(1), 4073(16); 1984, c. 721; 1987, c. 479.","full_text":"The term “public service company” when used in this chapter shall mean every person, firm, corporation or association, or their lessees, trustees or receivers, other than a municipal corporation, now or hereafter engaged in business in this Commonwealth as a public utility and subject to regulation as to rates and service by the State Corporation Commission under the provisions of Chapter 10 (\u00a7 56-232 et seq.) of this title; however, the term shall not include and the provisions of this chapter shall not be deemed to refer to common carrier railroad companies, the issuance of the stocks and securities of which are under regulation by the Interstate Commerce Commission.\n\nThe term “total capitalization” as used in \u00a7 56-65.1 shall mean total common stockholders’ equity (common stock, additional paid-in capital and retained earnings), preferred stock, and total debt (long- and short-term debt) as shown on the utility’s books.\n\nThe terms “securities” and “loan” as used in \u00a7\u00a7 56-68 and 56-75 shall include every obligation, written or otherwise, the issuance of, or entry into, which is required to be approved or validated by this chapter.\n\n","order_by":null,"text":{"0":{"id":1382110,"text":"The term “public service company” when used in this chapter shall mean every person, firm, corporation or association, or their lessees, trustees or receivers, other than a municipal corporation, now or hereafter engaged in business in this Commonwealth as a public utility and subject to regulation as to rates and service by the State Corporation Commission under the provisions of Chapter 10 (\u00a7 56-232 et seq.) of this title; however, the term shall not include and the provisions of this chapter shall not be deemed to refer to common carrier railroad companies, the issuance of the stocks and securities of which are under regulation by the Interstate Commerce Commission.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":""},"1":{"id":1382111,"text":"The term “total capitalization” as used in \u00a7 56-65.1 shall mean total common stockholders’ equity (common stock, additional paid-in capital and retained earnings), preferred stock, and total debt (long- and short-term debt) as shown on the utility’s books.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"prior_prefix":"","next_prefix":""},"2":{"id":1382112,"text":"The terms “securities” and “loan” as used in \u00a7\u00a7 56-68 and 56-75 shall include every obligation, written or otherwise, the issuance of, or entry into, which is required to be approved or validated by this chapter.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"prior_prefix":""}},"ancestry":[{"id":52780,"edition_id":2,"name":"Issuance of Stocks, Bonds, Etc.","identifier":"3","label":"chapter","depth":2,"order_by":4,"parent_id":52702,"metadata":{"child_laws":24,"child_structures":0},"date_created":"2026-08-02 03:04:32","date_modified":"2026-08-02 12:35:35","permalink":{"id":1477985,"object_type":"structure","relational_id":52780,"identifier":"3","token":"56\/3","url":"\/56\/3\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52702,"edition_id":2,"name":"Public Service Companies","identifier":"56","label":"title","depth":1,"order_by":121,"parent_id":null,"metadata":{"child_laws":710,"child_structures":93},"date_created":"2026-08-02 03:03:25","date_modified":"2026-08-02 12:35:34","permalink":{"id":1475475,"object_type":"structure","relational_id":52702,"identifier":"56","token":"56","url":"\/56\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":370577,"structure_id":52780,"section_number":"56-55","catch_line":"Definitions","url":"\/56-55\/","token":"56\/3\/56-55","metadata":false},{"id":370587,"structure_id":52780,"section_number":"56-56","catch_line":"Issue of securities a special privilege subject to regulation","url":"\/56-56\/","token":"56\/3\/56-56","metadata":false},{"id":370588,"structure_id":52780,"section_number":"56-57","catch_line":"Securities to which chapter is applicable","url":"\/56-57\/","token":"56\/3\/56-57","metadata":false},{"id":370615,"structure_id":52780,"section_number":"56-58","catch_line":"Purposes for which stock, etc., may issue","url":"\/56-58\/","token":"56\/3\/56-58","metadata":false},{"id":370653,"structure_id":52780,"section_number":"56-59","catch_line":"Order required before acting as surety, guarantor, etc","url":"\/56-59\/","token":"56\/3\/56-59","metadata":false},{"id":370681,"structure_id":52780,"section_number":"56-60","catch_line":"Application for order authorizing issuance of securities or assumption of liabilities","url":"\/56-60\/","token":"56\/3\/56-60","metadata":false},{"id":370692,"structure_id":52780,"section_number":"56-61","catch_line":"Action of Commission on such application","url":"\/56-61\/","token":"56\/3\/56-61","metadata":false},{"id":370703,"structure_id":52780,"section_number":"56-62","catch_line":"Joint action with commission of another state","url":"\/56-62\/","token":"56\/3\/56-62","metadata":false},{"id":370712,"structure_id":52780,"section_number":"56-63","catch_line":"Appeal from decision of Commission on issuance of securities","url":"\/56-63\/","token":"56\/3\/56-63","metadata":false},{"id":370713,"structure_id":52780,"section_number":"56-64","catch_line":"Repealed","url":"\/56-64\/","token":"56\/3\/56-64","metadata":false},{"id":370716,"structure_id":52780,"section_number":"56-65","catch_line":"Exceptions as to issue of stock, etc., in treasury, etc","url":"\/56-65\/","token":"56\/3\/56-65","metadata":{"court_decisions":{"0":{"name":"Woodard v. Commonwealth","case_number":"130854","citation":null,"date":"2014-02-27","url":"https:\/\/www.courtlistener.com\/opinion\/2654946\/woodard-v-commonwealth\/","abstract":" .\u202f.\u202f. PRESENT: All the Justices .\u202f.\u202f. ","court_html":"SCV<\/abbr>"},"1":{"name":"Chancelier Fazili v. Commonwealth of Virginia","case_number":"1379184","citation":null,"date":"2019-12-03","url":"https:\/\/www.courtlistener.com\/opinion\/4683399\/chancelier-fazili-v-commonwealth-of-virginia\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"COA<\/abbr>"},"2":{"name":" .\u202f.\u202f. T-Mobile Northeast LLC v. Fairfax County Board of .\u202f.\u202f. ","case_number":"3:10-cv-00117","citation":"759 F. Supp. 2d 756","date":"2010-12-17","url":"https:\/\/www.courtlistener.com\/opinion\/2478060\/t-mobile-northeast-llc-v-fairfax-county-board-of-supervisors\/","abstract":" .\u202f.\u202f. 759 F.Supp.2d 756 (2010) .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"},"3":{"name":"Smith v. Porter","case_number":"Civil Action 2:09cv188","citation":"416 B.R. 264","date":"2009-07-15","url":"https:\/\/www.courtlistener.com\/opinion\/1879003\/smith-v-porter\/","abstract":" .\u202f.\u202f. 416 B.R. 264 (2009) .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"},"4":{"name":" .\u202f.\u202f. United States v. William T. Ellis, United States of America .\u202f.\u202f. ","case_number":"90-5726, 91-5771","citation":"951 F.2d 580","date":"1992-01-07","url":"https:\/\/www.courtlistener.com\/opinion\/573897\/united-states-v-william-t-ellis-united-states-of-america-v-william-t\/","abstract":" .\u202f.\u202f. *582 .\u202f.\u202f. ","court_html":"Court of Appeals for the Fourth Circuit"},"5":{"name":"Bethune-Hill v. Va. State Bd. of Elections","case_number":"Civil Action No. 3:14cv852","citation":"326 F. Supp. 3d 128","date":"2018-06-26","url":"https:\/\/www.courtlistener.com\/opinion\/7331620\/bethune-hill-v-va-state-bd-of-elections\/","abstract":" .\u202f.\u202f. BARBARA MILANO KEENAN, Circuit Judge: .\u202f.\u202f. ","court_html":"District Court, E.D. Virginia"},"6":{"name":"Sheek v. City of Newport News","case_number":"Record 8167","citation":"214 Va. 288","date":"1973-10-08","url":"https:\/\/www.courtlistener.com\/opinion\/1419381\/sheek-v-city-of-newport-news\/","abstract":" .\u202f.\u202f. Poff, J., .\u202f.\u202f. ","court_html":"SCV<\/abbr>"},"7":{"name":"United States v. John Allen Gearhart","case_number":"8870","citation":"326 F.2d 412","date":"1964-01-09","url":"https:\/\/www.courtlistener.com\/opinion\/262852\/united-states-v-john-allen-gearhart\/","abstract":" .\u202f.\u202f. SOBELOFF, Chief Judge: .\u202f.\u202f. ","court_html":"Court of Appeals for the Fourth Circuit"},"8":{"name":"Doan v. Commonwealth","case_number":"Record No. 0280-91-4","citation":"422 S.E.2d 398","date":"1992-09-15","url":"https:\/\/www.courtlistener.com\/opinion\/1325637\/doan-v-commonwealth\/","abstract":" .\u202f.\u202f. 422 S.E.2d 398 (1992) .\u202f.\u202f. ","court_html":"COA<\/abbr>"},"9":{"name":"United States v. McHan","case_number":"94-5464","citation":null,"date":"1996-12-04","url":"https:\/\/www.courtlistener.com\/opinion\/2966543\/united-states-v-mchan\/","abstract":" .\u202f.\u202f. PUBLISHED .\u202f.\u202f. ","court_html":"Court of Appeals for the Fourth Circuit"}}}},{"id":370714,"structure_id":52780,"section_number":"56-65.1","catch_line":"Short-term indebtedness","url":"\/56-65.1\/","token":"56\/3\/56-65.1","metadata":false},{"id":370715,"structure_id":52780,"section_number":"56-65.2","catch_line":"Repealed","url":"\/56-65.2\/","token":"56\/3\/56-65.2","metadata":false},{"id":370717,"structure_id":52780,"section_number":"56-66","catch_line":"No authority to capitalize permit, franchise or contract for consolidation","url":"\/56-66\/","token":"56\/3\/56-66","metadata":false},{"id":370719,"structure_id":52780,"section_number":"56-67","catch_line":"Issuance of securities or assumption of liability void if order not obtained","url":"\/56-67\/","token":"56\/3\/56-67","metadata":false},{"id":370718,"structure_id":52780,"section_number":"56-67.1","catch_line":"Validity of authorized securities","url":"\/56-67.1\/","token":"56\/3\/56-67.1","metadata":false},{"id":370720,"structure_id":52780,"section_number":"56-68","catch_line":"No licensed salesman required when securities approved under this chapter","url":"\/56-68\/","token":"56\/3\/56-68","metadata":false},{"id":370721,"structure_id":52780,"section_number":"56-69","catch_line":"Purposes to which proceeds of security issues may be applied","url":"\/56-69\/","token":"56\/3\/56-69","metadata":false},{"id":370723,"structure_id":52780,"section_number":"56-70","catch_line":"Accounting for disposition of proceeds of issue of securities","url":"\/56-70\/","token":"56\/3\/56-70","metadata":false},{"id":370724,"structure_id":52780,"section_number":"56-71","catch_line":"Violations of provisions of chapter; penalty","url":"\/56-71\/","token":"56\/3\/56-71","metadata":false},{"id":370725,"structure_id":52780,"section_number":"56-72","catch_line":"Acts of officers, etc., bind company","url":"\/56-72\/","token":"56\/3\/56-72","metadata":false},{"id":370726,"structure_id":52780,"section_number":"56-73","catch_line":"Penalty as to officers, etc., for violation of provisions of chapter","url":"\/56-73\/","token":"56\/3\/56-73","metadata":false},{"id":370727,"structure_id":52780,"section_number":"56-74","catch_line":"State not obligated to pay or guarantee","url":"\/56-74\/","token":"56\/3\/56-74","metadata":false},{"id":370728,"structure_id":52780,"section_number":"56-75","catch_line":"Fees in connection with applications for authority to issue securities","url":"\/56-75\/","token":"56\/3\/56-75","metadata":false}],"next_section":{"id":370587,"structure_id":52780,"section_number":"56-56","catch_line":"Issue of securities a special privilege subject to regulation","url":"\/56-56\/","token":"56\/3\/56-56","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-55\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. 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. Those modifications are as follows: in 1984, chapter 721; in 1987, chapter 479.<\/p>","references":[{"id":370116,"section_number":"56-231.33","catch_line":"Adequate service; rates","order_by":null,"url":"\/56-231.33\/"},{"id":370204,"section_number":"56-249.6:1","catch_line":"Financing for certain deferred fuel costs; Phase I Utilities.","order_by":null,"url":"\/56-249.6_1\/"},{"id":370205,"section_number":"56-249.6:2","catch_line":"Financing for certain deferred fuel costs; Phase II Utilities","order_by":null,"url":"\/56-249.6_2\/"},{"id":370207,"section_number":"56-249.8","catch_line":"Financing for certain securitized asset costs; Phase I Utility","order_by":null,"url":"\/56-249.8\/"},{"id":370252,"section_number":"56-265.13:7","catch_line":"Regulation by State Corporation Commission","order_by":null,"url":"\/56-265.13_7\/"},{"id":370281,"section_number":"56-265.3","catch_line":"Certificate to furnish public utility service; allotment of territory transfers, leases or amendments","order_by":null,"url":"\/56-265.3\/"},{"id":370554,"section_number":"56-533","catch_line":"Regulation by State Corporation Commission","order_by":null,"url":"\/56-533\/"},{"id":370654,"section_number":"56-590","catch_line":"Divestiture, functional separation and other corporate relationships","order_by":null,"url":"\/56-590\/"}],"refers_to":[{"id":370144,"section_number":"56-232","catch_line":"Public utility and schedules defined","order_by":null,"url":"\/56-232\/"},{"id":370714,"section_number":"56-65.1","catch_line":"Short-term indebtedness","order_by":null,"url":"\/56-65.1\/"},{"id":370720,"section_number":"56-68","catch_line":"No licensed salesman required when securities approved under this chapter","order_by":null,"url":"\/56-68\/"},{"id":370728,"section_number":"56-75","catch_line":"Fees in connection with applications for authority to issue securities","order_by":null,"url":"\/56-75\/"}],"permalink":{"id":1477987,"object_type":"law","relational_id":370577,"identifier":"56-55","token":"56\/3\/56-55","url":"\/56-55\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/56-55\/","token":"56\/3\/56-55","dublin_core":{"Title":"Definitions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-55","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

The term “public service company<\/span>” when used in this chapter shall mean every person<\/span>, firm, corporation or association, or their lessees, trustees or receivers, other than a municipal corporation<\/span>, now or hereafter engaged in business in this Commonwealth as a public utility and subject to regulation as to rates<\/span> and service by the State Corporation Commission<\/span> under the provisions of Chapter 10 (\u00a7 56-232<\/a> et seq.) of this title; however, the term shall not include and the provisions of this chapter shall not be deemed to refer to common carrier railroad<\/span> companies, the issuance of the stocks and securities<\/span> of which are under regulation by the Interstate Commerce Commission<\/span>.<\/p>

The term “total capitalization<\/span>” as used in \u00a7 56-65.1<\/a> shall mean total common stockholders’ equity<\/span> (common stock, additional paid-in capital and retained earnings), preferred stock, and total debt (long- and short-term debt) as shown on the utility’s books.<\/p>

The terms “securities<\/span>” and “loan<\/span>” as used in \u00a7\u00a7 56-68<\/a> and 56-75<\/a> shall include every obligation, written or otherwise, the issuance of, or entry into, which is required to be approved or validated by this chapter.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nDEFINITIONS (\u00a7 56-55)\n\nThe term “public service company” when used in this chapter shall\nmean every person, firm, corporation or association, or their lessees, trustees\nor receivers, other than a municipal corporation, now or hereafter engaged in\nbusiness in this Commonwealth as a public utility and subject to regulation as\nto rates and service by the State Corporation Commission under the provisions of\nChapter 10 (\u00a7 56-232 et seq.) of this title; however, the term shall not\ninclude and the provisions of this chapter shall not be deemed to refer to\ncommon carrier railroad companies, the issuance of the stocks and securities of\nwhich are under regulation by the Interstate Commerce Commission.\n\nThe term “total capitalization” as used in \u00a7 56-65.1 shall mean\ntotal common stockholders’ equity (common stock, additional paid-in\ncapital and retained earnings), preferred stock, and total debt (long- and\nshort-term debt) as shown on the utility’s books.\n\nThe terms “securities” and “loan” as used in \u00a7\u00a7 56-68\nand 56-75 shall include every obligation, written or otherwise, the issuance of,\nor entry into, which is required to be approved or validated by this chapter.\n\nHISTORY: 1934, p. 221; Michie Code 1942, \u00a7\u00a7 4073(1), 4073(16); 1984, c. 721;\n1987, c. 479.","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"}}