Examples of Fair to the corporation in a sentence
Fair to the corporation means, for purposes of subdivision (b)(3) of section 21-2,121, that the transaction as a whole was beneficial to the corporation, taking into appropriate account whether it was (i) fair in terms of the director's dealings with the corporation and (ii) comparable to what might have been obtainable in an arm's length transaction, given the consideration paid or received by the corporation.
Fair to the corporation" means, for purposes of section 30-29-861(b)(3), Idaho Code, that the transaction as a whole was beneficial to the corporation, taking into appropriate account whether it was fair in terms of the director's dealings with the corporation, and comparable to what might have been obtainable in an arm's length transaction, given the consideration paid or received by the corporation.
A self-dealing transaction will not be void if:Knowledge of and approval by majority of the disinterested directors;Knowledge of and approval by shareholders; Fair to the corporation at the time authorized, approved or ratified.Weinberger v.