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Special Litigation Committee
A committee often formed within a corporation's board of directors to decide on legal strategies or manage specific litigation matters, especially in derivative lawsuits.
Derivative Suit
A lawsuit brought by a shareholder on behalf of a corporation against a third party, often its officers or directors, for harm done to the corporation.
Interested Directors
Board members who have a personal, financial, or other direct interest in a matter being considered by the board.
Model Nonprofit Corporation Act
Legislation aimed at providing a blueprint for the governance, structure, and operation of nonprofit corporations, facilitating their management and regulatory compliance.
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