{"data":{"id":"us-hi/haw.-rev.-stat.-414-262","jurisdiction":"us-hi","citation":"Haw. Rev. Stat. § 414-262","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 the director has a personal, economic, or other association, has an interest in the transaction.\n\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 the director has a personal, economic, or other association, has an interest in the transaction, if:\n\n(1) Directors' action respecting the transaction was at any time taken in compliance with section 414-263;\n\n(2) Shareholders' action respecting the transaction was at any time taken in compliance with section 414-264; or\n\n(3) The transaction, judged according to the circumstances at the time of commitment, is established to have been fair to the corporation.","path":["HI Code","Division 2","Title 23","Chapter 414"],"source_url":"http://www.capitol.hawaii.gov/hrscurrent/Vol08_Ch0401-0429/HRS0414/HRS_0414-0262.htm","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:11Z","sha256":"f83f87a27ee474ac7b7104b69f83b252e22fdd122c7171e18af1478acf1e277c","source_id":"us-hi","stale":false,"prev":"us-hi/haw.-rev.-stat.-414-250","next":"us-hi/haw.-rev.-stat.-414-263"},"notice":"GroundRules: Original legal text. Not legal advice."}