Limitations on the effect of §§ 47-1A-831 and 47-1A-831.1.

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47-1A-831.2. Limitations on the effect of §§47-1A-831 and 47-1A-831.1.

Nothing contained in §§47-1A-831 and 47-1A-831.1:

(1)In any instance where fairness is at issue, such as consideration of the fairness of a transaction to the corporation under subdivision 47-1A-861.1(3), alters the burden of proving the fact or lack of fairness otherwise applicable;

(2)Alters the fact or lack of liability of a director under another section of this chapter, such as the provisions governing the consequences of an unlawful distribution under §§47-1A-833 and 47-1A-833.1, or a transactional interest under §§47-1A-861 and 47-1A-861.1; or

(3)Affects any rights to which the corporation or a shareholder may be entitled under another statute of this state or the United States.

Source: SL 2005, ch 239, §161.


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