Can multiple Nested If statements with 'Or' condition work ?

[claudialet]

 Here is my expression with conditions : 

The result  I want is 

If A then A,

If B then B  but if B is not met then

If C then C 

if($(vFilter)=1 and DomesticFlag=1 , CompanyCode &' '&  Company Name ,

if($(vFilter)=4 and  ForeignFlag=1,  CompanyCode &' '&  Company Name,    << if  ForeignFlag=1 is not available  I want the next condition>>

if($(vFilter)=4 and StateFlag=1,  CompanyCode &' '&  Company Name

)) )

Is this correctly written ?