{"data":{"id":"us-gu/18-gca-28861","jurisdiction":"us-gu","citation":"18 GCA § 28861","heading":"Judicial Action.","body":"(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 has 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 has a personal, economic, or other association, has an interest in the transaction, if;\n(1) directors’ action respecting the transaction was at any time taken in compliance with § 28862;\n(2) shareholders’ action respecting the transaction was at any time taken in compliance with § 28863; 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 18: Business Structure and Function","Division 1 - Business Structure","Part 5 - Guam Business Corporation Act","Chapter 28: Guam Business Corporation Act","ARTICLE 8: DIRECTORS AND OFFICER","SUBARTICLE B: DIRECTORS ’ CONFLICTING INTEREST TRANSACTIONS"],"source_url":"https://col.guamcourts.gov/sites/default/files/18gc028.pdf","current_through":"P.L. 38-133 (June 4, 2026)","vintage":"","retrieved_at":"2026-09-27T03:55:38Z","sha256":"8e6dbb77a2638ffdbcea7637a2b472955f37c345097ce2073ed4239748e6e42e","source_id":"us-gu","stale":false,"prev":"us-gu/18-gca-28860","next":"us-gu/18-gca-28862"},"notice":"GroundRules: Original legal text. Not legal advice."}