Idaho § 30-29-861 JUDICIAL ACTION

Idaho Statutes

§ 30-29-861 — JUDICIAL ACTION

Idaho § 30-29-861

Title 30CORPORATIONS

Part 8DIRECTORS AND OFFICERS

Ch. 29GENERAL BUSINESS CORPORATIONS

This text of Idaho § 30-29-861 (JUDICIAL ACTION) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 30-29-861 (2026).

Text

(a)A transaction effected or proposed to be effected by the corporation or by an entity controlled by the corporation may not be the subject of equitable relief, or give rise to an award of damages or other sanctions against a director of the corporation, in a proceeding by a shareholder or by or in the right of the corporation, on the grounds that the director has an interest, respecting the transaction if it is not a director’s conflicting interest transaction.

(b)A director’s conflicting interest transaction may not be the subject of equitable relief or give rise to an award of damages or other sanctions against a director of the corporation, in a proceeding by a shareholder or by or in the right of the corporation, on the grounds that the director has an interest respecting the trans

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A transaction effected or proposed to be effected by the corporation or by an entity controlled by the corporation may not be the subject of equitable relief, or give rise to an award of damages or other sanctions against a director of the corporation, in a proceeding by a shareholder or by or in the right of the corporation, on the grounds that the director has an interest, respecting the transaction if it is not a director’s conflicting interest transaction.
(b) A director’s conflicting interest transaction may not be the subject of equitable relief or give rise to an award of damages or other sanctions against a director of the corporation, in a proceeding by a shareholder or by or in the right of the corporation, on the grounds that the director has an interest respecting the transaction, if:
(1) Directors’ action respecting the transaction was taken in compliance with section 30-29-862, Idaho Code, at any time;
(2) Shareholders’ action respecting the transaction was taken in compliance with section 30-29-863, Idaho Code, at any time; or
(3) The transaction, judged according to the circumstances at the relevant time, is established to have been fair to the corporation.