Peterhead are set to face a Rangers newco in the first game of the season after the light blues were relegated to the Third Division on Friday.
Representatives from 30 member clubs decided Rangers must play in the bottom tier of the league structure after rejecting proposals which could have seen the new company play in the First Division.
SFL chief executive David Longmuir confirmed that 29 of the 30 member clubs had voted in favour of allowing Rangers newco into the Scottish League setup, and that 25 of the 30 clubs had voted for the club to be installed in the Third Division.
The Blue Toon team will now face Rangers at Balmoor on August 11. As Stranraer lost in the play-off final, they will be the team to benefit from a promotion to the Second Division.
Peterhead chairman Rodger Morrison told STV the his vote was a "simple decision".
He said: "I think they had to go into the third division. It was the right thing to do and what we wanted to see happen as a club.”
He added: "It will be exciting to face Rangers. We never voted today thinking about getting Rangers. We have had Celtic recently in the Scottish Cup when we had just under 5000 at the stadium.
"There will be a large number of fans but we can only fill our stadium with what it can hold. I do think the SFA will do everything it can to get Rangers into the second division."