47-1A-861. Judicial action--Transaction other than director's conflicting interest transaction.
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/sd/title-47/chapter-47-1/47-1a-861·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A transaction 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, that is not a director's conflicting interest transaction, may not be enjoined, set aside, or give rise to an award of damages or other sanctions, in a proceeding by a shareholder or by or in the right of the corporation, because a director of the corporation, or any person with whom or which the director has a personal, economic, or other association, has an interest in the transaction.