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What Best Describes the Circumstances in Which a Director May

Question 38

Multiple Choice

What best describes the circumstances in which a director may transact with the corporation?


A) Procedural safeguards are observed in connection with the approval of the transaction and it is fair and reasonable to the corporation.
B) The director abstains from voting when the directors vote on the approval of the transaction.
C) A judge has given approval to the transaction.
D) The corporation receives a benefit from the transaction.
E) The director provides a notice to the board of benefit the director will receive from the transaction.

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