{"data":{"id":"us-va/va.-code-13.1-347","jurisdiction":"us-va","citation":"Va. Code § 13.1-347","heading":"Formation of worker cooperative; purpose","body":"A. Any corporation incorporated under Article 3 (§ 13.1-618 et seq.) of Chapter 9 may elect to be governed as a worker cooperative in accordance with the provisions of this article by so stating in its articles of incorporation or articles of amendment filed in accordance with § 13.1-710. The offering of an employee stock ownership plan governed by 26 U.S.C. § 401 by a corporation incorporated under Article 3 (§ 13.1-618 et seq.) of Chapter 9 to its employees shall not be considered an election to be governed as a worker cooperative.B. A worker cooperative may be formed for any lawful purpose, provided that it shall be organized and shall conduct its business primarily for the mutual benefit of its members.2020, c. 673.","path":["Title 13.1. Corporations","Chapter 3. Cooperative Associations","Article 3. Worker Cooperatives"],"source_url":"https://law.lis.virginia.gov/vacode/13.1-347/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:14:14Z","sha256":"6e811072f12b54777203952d3d3f4de51413dc55a726c76da33dee0afdb2aa49","source_id":"us-va","stale":true,"prev":"us-va/va.-code-13.1-346","next":"us-va/va.-code-13.1-348"},"notice":"GroundRules: Original legal text. Not legal advice."}