Sec 10-740. Definitions

Latest version.

In this article, unless the context otherwise requires:

1. "Derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided in section 10-747, in the right of a foreign corporation.

2. "Independent person" means a person with no personal interest in the transaction and no personal or other relationship which influences the person.

3. "Shareholder" includes a beneficial owner whose shares are held in a voting trust or are held by a nominee on the beneficial owner's behalf.

                    
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