This article reviews recent developments in the law affecting Virginia businesses and corporations. The most significant development was the enactment by the 1985 session of the Virginia General Assembly of a completely revised Virginia Stock Corporation Act (the "Revised Act"), which generally became effective January 1, 1986. This article does not review the entire Revised Act, but instead focuses on the powerful anti-takeover devices contained in the Revised Act and all of the amendments pertaining to the Revised Act enacted by the 1986 session of the Virginia General Assembly. Additionally, this article will review judicial developments, including the establishment by the Virginia Supreme Court of an exception to the employment-at-will doctrine in favor of the free exercise of shareholder rights, and the repudiation by the United States Supreme Court of the "sale of business" exception to federal securities laws.
David R. Ruby,
Annual Survey of Virginia Law: Business and Corporate Law,
U. Rich. L. Rev.
Available at: http://scholarship.richmond.edu/lawreview/vol20/iss4/3