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Title 10 – Corporations and Associations Chapter 31 – Directors and officers-nonprofit Corporations Article 6 – Director’s Conflicting interest Transactions In this article, unless the context otherwise requires: 1. "Conflicting interest" with respect to a corporation means the interest a director of the corporation has respecting a transaction effected or proposed to be effected by […]
Title 10 – Corporations and Associations Chapter 31 – Directors and officers-nonprofit Corporations Article 6 – Director’s Conflicting interest Transactions A. A transaction that is effected or proposed to be effected by a corporation, or by a subsidiary of the corporation or any other entity in which the corporation has a controlling interest, and that […]
Title 10 – Corporations and Associations Chapter 31 – Directors and officers-nonprofit Corporations Article 6 – Director’s Conflicting interest Transactions A. Directors’ action respecting a transaction is effective for purposes of section 10-3861, subsection B, paragraph 1 if the transaction received the affirmative vote of a majority, but at least two, of those qualified directors […]
Title 10 – Corporations and Associations Chapter 31 – Directors and officers-nonprofit Corporations Article 6 – Director’s Conflicting interest Transactions A. Members’ action respecting a transaction is effective for purposes of section 10-3861, subsection B, paragraph 2 if a majority of the votes entitled to be cast by the holders of all qualified membership interests […]
Title 10 – Corporations and Associations Chapter 31 – Directors and officers-nonprofit Corporations Article 6 – Director’s Conflicting interest Transactions A. The board of directors of a corporation shall adopt a policy regarding transactions between the corporation and interested persons, including the sale, lease or exchange of property to or from interested persons and the […]