Except as provided in § 13.1-727 and notwithstanding the provisions of subsection A of § 13.1-638, in addition to any affirmative vote required by any other section of this Act or by the articles of incorporation, an affiliated transaction shall be approved by the affirmative vote of the holders of two-thirds of the voting shares other than shares beneficially owned by the interested shareholder.
Va. Code Ann. § 13.1-726
Voting requirements for affiliated transactions
Known as the Virginia Stock Corporation Act
The act spans §§ 13.1-601 to 13.1-792 (265 sections).
1985, c. 522; 1988, c. 442.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.