Except as expressly provided in this article, the provisions of this article shall not limit actions that may be taken, or require the taking of any action, by the board of directors or shareholders with respect to any potential change in control of the corporation. With respect to any action or any failure to act by the board of directors, the provisions of § 13.1-690 shall apply. In determining the best interests of the corporation, a director may consider the possibility that those interests may best be served by the continued independence of the corporation.
Va. Code Ann. § 13.1-727.1
Nonexclusivity
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 Berman v. Physical Medicine Associates, Ltd. (2000)
Most recently applied in Berman v. Physical Medicine Associates, Ltd. (August 2000)
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.