Virginia Approval of Restricted Share Plan for Directors with Copy of Plan
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Section 13.1-649 of the VSCA authorizes a Virginia corporation to issue shares and other securities that are not transferable to designated persons or classes of persons. Id. § 13.1-649. The Death Of Two-Tiered Takeovers In Virginia? wlu.edu ? cgi ? viewcontent wlu.edu ? cgi ? viewcontent
Approval of loans to directors. Ratifying a director's breach of fiduciary duty, except where the acts were dishonest or where the relevant act was unlawful or unauthorised. Removal of directors from office against their will. Approval of payments compensating directors for loss of office. Shareholder decision-making - Cheyney Goulding cheyneygoulding.co.uk ? what-decisions-to-share... cheyneygoulding.co.uk ? what-decisions-to-share...
Distributions to shareholders. A. The board of directors may authorize and the corporation may make distributions to its shareholders, subject to restriction by the articles of incorporation and the limitation in subsection C.