What best describes the circumstances in which a director may transact with the corporation?
A) Procedural safeguards to avoid conflicts of interest and to provide transparency are observed in connection with the approval of the transaction and it is fair and reasonable to the corporation.
B) The corporation receives a benefit from the transaction.
C) A judge has given approval to the transaction.
D) The director abstains from voting when the directors vote on the approval of the transaction.
E) The director provides a notice to the board of benefits the director will receive from the transaction.
Correct Answer:
Verified
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