193.461 Director conflicts of interest.
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193.461 Director conflicts of interest.
(1)Conflict voiding certain contracts and transactions. A contract or transaction between a cooperative and a director, as determined under sub.
(b)1. , or between a cooperative and a business entity of which at least one of the cooperative’s directors is a governor, director, manager, officer, or legal representative, as determined under sub.
(b)2. , or in which at least one of the cooperative’s directors has a material financial interest, as determined under sub.
(a), is void unless any of the following apply: