S.D. Codified Laws § 47-1A-744.2

Current through the 2024 Legislative Session

Section 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.

SDCL 47-1A-744.2

SL 2005, ch 239, §129.