The Revised Model Business Corporation Act provides that a self-dealing transaction is not a breach of the duty of loyalty if a majority of disinterested parties approve the transaction after disclosure of the conflict.

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The Revised Model Business Corporation Act does provide that a self-dealing transaction is not a breach of the duty of loyalty if a majority of disinterested parties approve the transaction after disclosure of the conflict. However, it should be noted that state laws may vary on this issue, and it is important to consult applicable state laws and regulations.

The Revised Model Business Corporation Act Provides That a Self-Dealing