Arizona Arizona Revised Statutes

§ 10-3860 — Definitions

ARS § 10-3860Title 10. Corporations and Associations · Ch. 31. DIRECTORS AND OFFICERS-NONPROFIT CORPORATIONS · Art. 6. Director's Conflicting Interest Transactions

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10-3860. Definitions 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 the corporation, by a subsidiary of the corporation or by any other entity in which the corporation has a controlling interest if either:

(a)Whether or not the transaction is brought before the board of directors of the corporation for action, the director knows at the time of commitment that the director or a related person either:

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