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Qualified director defined.

SDCL § 47-1A-862.3
in effect
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47-1A-862.3. Qualified director defined. For purposes of §§ 47-1A-862 and 47-1A-862.1, the term, qualified director means, with respect to a director's conflicting interest transaction, any director who does not have either a conflicting interest respecting the transaction, or a familial, financial, professional, or employment relationship with a second director who does have a conflicting interest respecting the transaction, which relationship would, in the circumstances, reasonably be expected to exert an influence on the first director's judgment when voting on the transaction. SL 2005, ch 239, § 189.
Source: South Dakota Legislature (sdlegislature.gov)URL: https://sdlegislature.gov/Statutes/47-1A-862.3Fetched: 10/20/2026

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