{"data":{"id":"us-al/ala.-code-10a-2-8.61","jurisdiction":"us-al","citation":"Ala. Code § 10A-2-8.61","heading":"Judicial Action.","body":"REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.\n(a) A transaction effected or proposed to be effected by a corporation, or by a subsidiary of the corporation or any other entity in which the corporation has a controlling interest, that is not a director’s conflicting interest transaction may not be enjoined, set aside, or give rise to an award of damages or other sanctions, in a proceeding by a shareholder or by or in the right of the corporation, because a director of the corporation, or any person with whom or which he or she has a personal, economic, or other association, has an interest in the transaction.\n(b) A director’s conflicting interest transaction may not be enjoined, set aside, or give rise to an award of damages or other sanctions, in a proceeding by a shareholder or by or in the right of the corporation, because the director, or any person with whom or which he or she has a personal, economic, or other association, has an interest in the transaction, if:\n(1) Director’s action respecting the transaction was at any time taken in compliance with Section 10A-2-8.62; or\n(2) Shareholders’ action respecting the transaction was at any time taken in compliance with Section 10A-2-8.63; or\n(3) The transaction, judged according to the circumstances at the time of commitment, is established to have been fair to the corporation.","path":["Title 10A Alabama Business and Nonprofit Entities Code.","Chapter 2 Business Corporations.","Article 8 Directors and Officers.","Division F Directors’ Conflicting Interest Transactions."],"source_url":"https://alison.legislature.state.al.us/code-of-alabama?section=10A-2-8.61","current_through":"Act 2026-611","vintage":"","retrieved_at":"2026-09-03T14:01:53Z","sha256":"1f275e406502308d0ff3c3f0b239143dcc4a94a3ea167f8d78c164567e334c90","source_id":"us-al","stale":false,"prev":"us-al/ala.-code-10a-2-8.60","next":"us-al/ala.-code-10a-2-8.62"},"notice":"GroundRules: Original legal text. Not legal advice."}