{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/56-71.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/56-71.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/56-71.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/56-71.html"}],"law_id":370724,"edition_id":2,"section_id":370724,"structure_id":52780,"section_number":"56-71","catch_line":"Violations of provisions of chapter; penalty","history":"1934, p. 225; Michie Code 1942, \u00a7 4073(12).","full_text":"Every public service company which, directly or indirectly, issues or causes to be issued any stock or stock certificate or other evidence of interest or ownership, or bond, note or other evidence of indebtedness, otherwise than in conformity with the order of the Commission authorizing the same, or contrary to the provisions of this chapter, or which applies the proceeds from the sale thereof, or any part thereof, to any purpose other than the purpose or purposes specified in the Commission’s order, as provided in this chapter, or to any purpose specified in such order in excess of the amount in such order authorized for such purpose, shall be subject, in a proceeding before the Commission under rule to show cause, to a penalty of not more than $1,000 for each offense. Every violation of any such order, rule, direction, demand or requirement of the Commission, or of any provision of this chapter, shall be a separate and distinct offense and in case of continuing violation every day’s continuance thereof shall be deemed to be a separate and distinct offense. The Commission shall also have jurisdiction, in a proceeding under \u00a7 13.1-519, to issue a cease and desist order enjoining any further or threatened violation of the provisions of this chapter.\n\n","order_by":null,"text":{"0":{"id":1383120,"text":"Every public service company which, directly or indirectly, issues or causes to be issued any stock or stock certificate or other evidence of interest or ownership, or bond, note or other evidence of indebtedness, otherwise than in conformity with the order of the Commission authorizing the same, or contrary to the provisions of this chapter, or which applies the proceeds from the sale thereof, or any part thereof, to any purpose other than the purpose or purposes specified in the Commission’s order, as provided in this chapter, or to any purpose specified in such order in excess of the amount in such order authorized for such purpose, shall be subject, in a proceeding before the Commission under rule to show cause, to a penalty of not more than $1,000 for each offense. Every violation of any such order, rule, direction, demand or requirement of the Commission, or of any provision of this chapter, shall be a separate and distinct offense and in case of continuing violation every day’s continuance thereof shall be deemed to be a separate and distinct offense. The Commission shall also have jurisdiction, in a proceeding under \u00a7 13.1-519, to issue a cease and desist order enjoining any further or threatened violation of the provisions of this chapter.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"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. 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","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}],"previous_section":{"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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-71\/","history_text":false,"references":false,"refers_to":[{"id":346655,"section_number":"13.1-519","catch_line":"Injunctions","order_by":null,"url":"\/13.1-519\/"}],"permalink":{"id":1478063,"object_type":"law","relational_id":370724,"identifier":"56-71","token":"56\/3\/56-71","url":"\/56-71\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/56-71\/","token":"56\/3\/56-71","dublin_core":{"Title":"Violations of provisions of chapter; penalty","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-71","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Every public service company<\/span> which, directly or indirectly, issues<\/span> or causes to be issued any stock or stock certificate or other evidence<\/span> of interest or ownership, or bond<\/span>, note or other evidence<\/span> of indebtedness, otherwise than in conformity with the order<\/span> of the Commission<\/span> authorizing the same, or contrary to the provisions of this chapter, or which applies the proceeds from the sale thereof, or any part thereof, to any purpose other than the purpose or purposes specified in the Commission<\/span>’s order<\/span>, as provided in this chapter, or to any purpose specified in such order<\/span> in excess of the amount in such order<\/span> authorized for such purpose, shall be subject, in a proceeding before the Commission<\/span> under rule to show cause, to a penalty<\/span> of not more than $1,000 for each offense<\/span>. Every violation of any such order<\/span>, rule, direction, demand or requirement of the Commission<\/span>, or of any provision of this chapter, shall be a separate and distinct offense<\/span> and in case of continuing violation every day’s continuance<\/span> thereof shall be deemed to be a separate and distinct offense<\/span>. The Commission<\/span> shall also have jurisdiction<\/span>, in a proceeding under \u00a7 13.1-519<\/a>, to issue<\/span> a cease and desist order<\/span> enjoining any further or threatened violation of the provisions of this chapter.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nVIOLATIONS OF PROVISIONS OF CHAPTER; PENALTY (\u00a7 56-71)\n\nEvery public service company which, directly or indirectly, issues or causes to\nbe issued any stock or stock certificate or other evidence of interest or\nownership, or bond, note or other evidence of indebtedness, otherwise than in\nconformity with the order of the Commission authorizing the same, or contrary to\nthe provisions of this chapter, or which applies the proceeds from the sale\nthereof, or any part thereof, to any purpose other than the purpose or purposes\nspecified in the Commission’s order, as provided in this chapter, or to\nany purpose specified in such order in excess of the amount in such order\nauthorized for such purpose, shall be subject, in a proceeding before the\nCommission under rule to show cause, to a penalty of not more than $1,000 for\neach offense. Every violation of any such order, rule, direction, demand or\nrequirement of the Commission, or of any provision of this chapter, shall be a\nseparate and distinct offense and in case of continuing violation every\nday’s continuance thereof shall be deemed to be a separate and distinct\noffense. The Commission shall also have jurisdiction, in a proceeding under \u00a7\n13.1-519, to issue a cease and desist order enjoining any further or threatened\nviolation of the provisions of this chapter.\n\nHISTORY: 1934, p. 225; Michie Code 1942, \u00a7 4073(12).","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"}}