There is a newer version of the South Dakota Codified Laws
2012 South Dakota Codified Laws
Title 47 CORPORATIONS
Chapter 01A. South Dakota Business Corporation Act
§47-1A-862.3 Qualified director defined.
SD Codified L § 47-1A-862.3 (through 2012) What's This?
47-1A-862.3. Qualified director defined. For purposes of §§ 47-1A-862 and 47-1A-862.1, the term, qualified director means, with respect to a director's conflicting interest transaction, any director who does not have either a conflicting interest respecting the transaction, or a familial, financial, professional, or employment relationship with a second director who does have a conflicting interest respecting the transaction, which relationship would, in the circumstances, reasonably be expected to exert an influence on the first director's judgment when voting on the transaction.
Source: SL 2005, ch 239, § 189.
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