Section 14-2-1111. Additional business combination approval

   In addition to any vote otherwise required by law or the articles of incorporation of the corporation, a business combination shall be:

   (1) Unanimously approved by the continuing directors, provided that the continuing directors constitute at least three members of the board of directors at the time of such approval; or

   (2) Recommended by at least two-thirds of the continuing directors and approved by a majority of the votes entitled to be cast by holders of voting shares, other than voting shares beneficially owned by the interested shareholder who is, or whose affiliate is, a party to the business combination.

Code 1981, § 14-2-1111, enacted by Ga. L. 1988, p. 1070, § 1.