Vermont § 819a - Judicial action
Full text of Vermont Vermont Statutes Online § 819a — Judicial action, with citation guidance and answers to common questions.
§ 819a. Judicial action
- (a) A transaction effected or proposed to be effected by the enterprise, or by an entity
controlled by the enterprise, may not be the subject of equitable relief or give rise
to an award of damages or other sanctions against a director of the enterprise in
a proceeding by a member or by or in the right of the enterprise on the ground that
the director has an interest respecting the transaction, if it is not a director’s
conflicting interest transaction. (b) A director’s conflicting interest transaction may not be the subject of equitable
relief or give rise to an award of damages or other sanctions against a director of
the enterprise in a proceeding by a member or by or in the right of the enterprise
on the ground that the director has an interest respecting the transaction if: (1) the directors’ action respecting the transaction was taken in compliance with section 819b of this title at any time; or (2) the members’ action respecting the transaction was taken in compliance with section 819c of this title at any time; or (3) the transaction, judged according to the circumstances at the relevant time, is established
to have been fair to the enterprise. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
Frequently Asked Questions About Vermont § 819a
What does Vermont Statutes Online § 819a cover?
Section 819a ("Judicial action") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 819a?
A common citation format is "Vermont Statutes Online § 819a" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 819a apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.