Except as expressly provided in this article, neither the provisions of this article nor their application to any acquiring person shall 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 changes in control of any public corporation. Regardless of the applicability of this article, in the case of any action taken or not taken by directors, the provisions of § 13.1-690 shall apply, and, 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. § 13.1-728.9
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 219 Or. App. 16 - Crandon Capital Partners v. Shelk (2008)
Most recently applied in 219 Or. App. 16 - Crandon Capital Partners v. Shelk (March 2008)
1989, c. 14; 2005, c. 765; 2019, c. 734.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.