Section 47-1A-744.2 - Factors not pertinent to determining independence of directors.
47-1A-744.2. Factors not pertinent to determining independence of directors. None of the following is, by itself, cause for a director to be considered not independent for purposes of §§ 47-1A-744 to 47-1A-744.5, inclusive:
(1) The nomination or election of the director by persons who are defendants in the derivative proceeding or against whom action is demanded;
(2) The naming of the director as a defendant in the derivative proceeding or as a person against whom action is demanded; or
(3) The approval by the director of the act being challenged in the derivative proceeding or demand if the act resulted in no personal benefit to the director.
Source: SL 2005, ch 239, § 129.