A Director Must Abstain from Voting on a Proposed Transaction

question 1

True/False

A director must abstain from voting on a proposed transaction in which he or she has a personal interest.​

---

Definitions:

Hurricane Katrina

A devastating Category 5 hurricane that struck the Gulf Coast of the United States in August 2005, causing significant loss of life and property, particularly in New Orleans.

New Orleans

A major city in Louisiana, known for its vibrant music scene, distinct French and Spanish Creole architecture, and multicultural heritage, especially celebrated during Mardi Gras.

Mayor

The elected head of a city, town, or other municipality, responsible for governing and managing the administrative functions of the municipality.

National Guard

A reserve military force composed of state National Guard militia units, which operates under state and federal laws.