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Va. Code Ann. § 13.1-725.1

Affiliated transactions

Known as the Virginia Stock Corporation Act

The act spans §§ 13.1-601 to 13.1-792 (265 sections).

Applied in 1 court decision — leading case DCG & T ex rel. Battaglia/Ira v. Knight (2014)

Most recently applied in DCG & T ex rel. Battaglia/Ira v. Knight (December 2014)

1988, c. 442.

Notwithstanding any provision to the contrary contained in this chapter, except as provided in subsection B of § 13.1-727, no corporation shall engage in any affiliated transaction with any interested shareholder for a period of three years following such interested shareholder's determination date unless approved by the affirmative vote of a majority (but not less than two) of the disinterested directors and by the affirmative vote of the holders of two-thirds of the voting shares other than shares beneficially owned by the interested shareholder. A corporation may engage in an affiliated transaction with an interested shareholder beginning three years after such interested shareholder's determination date, provided such transaction complies with the provisions of § 13.1-726.

Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.