Vermont § 819 - Definitions For purposes of this section and sections 819a through 819c of this title:

§ 819. Definitions For purposes of this section and sections 819a through 819c of this title:

• (1) “Control,” including the term “controlled by,” means: (A) having the power, directly or indirectly, to elect or remove a majority of the members
  of the board of directors or other governing body of an entity whether through the
  ownership of voting shares or interests, by contract, or otherwise; or (B) being subject to a majority of the risk of loss from the entity’s activities or entitled
  to receive a majority of the entity’s residual returns. (2) “Director’s conflicting interest transaction” means a transaction effected or proposed
  to be effected by the enterprise or by an entity controlled by the enterprise that
  at the relevant time the director: (A) was a party to; or (B) had knowledge of and a material financial interest known to the director; or (C) knew that a related person was a party or had a material financial interest. (3) “Fair to the enterprise” means, for purposes of subdivision 819a(b)(3) of this title, that the transaction as a whole was beneficial to the enterprise, taking into appropriate
  account whether it was: (A) fair in terms of the director’s dealings with the enterprise; and (B) comparable to what might have been obtainable in an arm’s length transaction, given
  the consideration paid or received by the enterprise. (4) “Material financial interest” means a financial interest in a transaction that would
  reasonably be expected to impair the objectivity of the director’s judgment when participating
  in action on the authorization of the transaction. (5) “Related person” means: (A) the director’s spouse; (B) a child, stepchild, grandchild, parent, stepparent, grandparent, sibling, step-sibling,
  half-sibling, aunt, uncle, niece, or nephew (or spouse of any thereof) of the director
  or of the director’s spouse; (C) an individual living in the same home as the director; (D) an entity, other than the enterprise or an entity controlled by the enterprise, controlled
  by the director or any person specified in this subdivision (5); (E) a domestic or foreign: