The Revised Model Business Corporation Act Provides That a Self-Dealing

question 28

True/False

The Revised Model Business Corporation Act provides that a self-dealing transaction is not a breach of the duty of loyalty if a majority of disinterested parties approve the transaction after disclosure of the conflict.

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Definitions:

End-user Development

Refers to tools and methods that allow users with little to no programming skills to create or modify software applications or systems.

IT Department

The division in an organization that is charged with managing and overseeing the technology infrastructure and systems.

Vendor Hosts

Third-party companies or organizations that provide hosting services, allowing businesses to deploy their websites or applications on the vendor's servers.

Network

A system of interconnected computers, servers, and other devices that allows for communication and data exchange among them.