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. Source: SL 2005, ch 239 , § 189.