13.1-726 - Voting requirements for affiliated transactions. - Virginia Statutes

§ 13.1-726. Voting requirements for affiliated transactions.

Except as provided in § 13.1-727 and notwithstanding the provisions ofsubsection A of § 13.1-638, in addition to any affirmative vote required byany other section of this Act or by the articles of incorporation, anaffiliated transaction shall be approved by the affirmative vote of theholders of two-thirds of the voting shares other than shares beneficiallyowned by the interested shareholder.

(1985, c. 522; 1988, c. 442.)