(a) The law applicable to conflicts of interest between a director of an entity organized under Chapter 3 of this title shall govern conflicts of interest between a limited cooperative association and a director or member of a committee of the board of directors.
(b) A director shall not have a conflict of interest under this chapter or the organic rules solely because the director’s conduct relating to the duties of the director may further the director’s own interest.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
This section is referenced in § 29-1001.11.
Uniform Law: This section is based on § 819 of the Uniform Limited Cooperative Association Act. Edition
Structure District of Columbia Code
Title 29 - Business Organizations. [Enacted title]
Chapter 10 - Limited Cooperative Associations
Subchapter VIII - Directors and Officers
§ 29–1008.01. Board of directors
§ 29–1008.02. No liability as director for limited cooperative association’s obligations
§ 29–1008.03. Qualifications of directors
§ 29–1008.04. Election of directors and composition of board
§ 29–1008.05. Term of director
§ 29–1008.06. Resignation of director
§ 29–1008.07. Removal of director
§ 29–1008.08. Suspension of director by board
§ 29–1008.09. Vacancy on board
§ 29–1008.10. Remuneration of directors
§ 29–1008.12. Action without meeting
§ 29–1008.13. Meetings and notice
§ 29–1008.14. Waiver of notice of meeting
§ 29–1008.18. Standards of conduct and liability
§ 29–1008.19. Conflict of interest
§ 29–1008.20. Other considerations of directors
§ 29–1008.21. Right of director or committee member to information