An Introduction to the Law of Corporations: Cases and Materials
DGCL Sec. 144
The following provision of the statute provides a safe harbor for interested director transactions. If the requirements of the safe harbor are complied with then an interested director transaction will not be void or voidable because of the participation of the director. This statutory safe harbor essentially mimics the common law standard developed for saving interested director transactions from voidability challenges through the mid-Twentieth century.
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