{"id":129,"date":"2014-10-21T15:10:33","date_gmt":"2014-10-21T15:10:33","guid":{"rendered":"http:\/\/dgclsimplified.com\/?page_id=129"},"modified":"2015-04-01T20:21:24","modified_gmt":"2015-04-01T20:21:24","slug":"%c2%a7-144-interested-directors-quorum","status":"publish","type":"page","link":"https:\/\/simplifiedcodes.com\/?page_id=129","title":{"rendered":"\u00a7 144. Interested directors; quorum."},"content":{"rendered":"<ol style=\"list-style-type: lower-alpha;\">\n<li> No transaction between the corporation and any of its directors or officers (D\/O), or any organization in which its D\/O have a financial interest or serve as D\/O, shall be void or voidable <em>solely for this reason<\/em>, or <em>solely <\/em>because the director or officer is present at or participates or votes in the meeting of the board or committee which authorizes the transaction, if\n<p><strong>the transaction is approved in good faith after full <em>disclosure<\/em><\/strong> by a majority vote 1. of the disinterested directors or 2. of the shareholders; <strong><em>or<\/em><\/strong><\/p>\n<p>3. <strong>the transaction is <em>fair<\/em><\/strong> as to the corporation as of the time it is authorized, approved or ratified, by the board, a committee or the shareholders.<\/li>\n<li> Common or interested directors may be counted in determining the presence of a <em>quorum<\/em> at a meeting of the board or a committee which authorizes the contract or transaction. <\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>No transaction between the corporation and any of its directors or officers (D\/O), or any organization in which its D\/O have a financial interest or serve as D\/O, shall be void or voidable solely for this reason, or solely because the director or officer is present at or participates or votes in the meeting of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":66,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"_links":{"self":[{"href":"https:\/\/simplifiedcodes.com\/index.php?rest_route=\/wp\/v2\/pages\/129"}],"collection":[{"href":"https:\/\/simplifiedcodes.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/simplifiedcodes.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/simplifiedcodes.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/simplifiedcodes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129"}],"version-history":[{"count":5,"href":"https:\/\/simplifiedcodes.com\/index.php?rest_route=\/wp\/v2\/pages\/129\/revisions"}],"predecessor-version":[{"id":548,"href":"https:\/\/simplifiedcodes.com\/index.php?rest_route=\/wp\/v2\/pages\/129\/revisions\/548"}],"up":[{"embeddable":true,"href":"https:\/\/simplifiedcodes.com\/index.php?rest_route=\/wp\/v2\/pages\/66"}],"wp:attachment":[{"href":"https:\/\/simplifiedcodes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}