{"data":{"id":"us-sd/sdcl-47-1a-861.1","jurisdiction":"us-sd","citation":"SDCL § 47-1A-861.1","heading":"Judicial action--Director's conflicting interest transaction.","body":"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(1) Directors' action respecting the transaction was at any time taken in compliance with §§ 47-1A-862 to 47-1A-862.3, inclusive;\n(2) Shareholders' action respecting the transaction was at any time taken in compliance with §§ 47-1A-863 to 47-1A-863.3, inclusive; 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 47. CORPORATIONS","CHAPTER 47-1A. SOUTH DAKOTA BUSINESS CORPORATION ACT"],"source_url":"https://sdlegislature.gov/Statutes/47-1A-861.1","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"a36c3e2871ac022c3f98e4fcd8bc6ffd96497ae99e85312de53b470179f74feb","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-47-1a-861","next":"us-sd/sdcl-47-1a-862"},"notice":"GroundRules: Original legal text. Not legal advice."}