except that, rather than making “required disclosure” as defined in Code Section 14-2-860, in each case the director shall have made prior disclosure to those approving such disclaimer on behalf of the corporation of all material facts concerning the business opportunity that are then known to the director, subject to subsection (e) of this Code section, and that a “qualified director” is a director who, at the time action is to be taken under paragraph (1) of subsection (c) of this Code section, would be a qualified director under subsection (d) of Code Section 14-2-862 if the business opportunity were a director’s conflicting interest transaction.
History. Code 1981, § 14-2-870 , enacted by Ga. L. 2016, p. 225, § 1-11/SB 128; Ga. L. 2017, p. 774, § 14/HB 323.
The 2017 amendment, effective May 9, 2017, part of an Act to revise, modernize, and correct the Code, substituted “subsection (c) or (d)” for “subsections (c) or (d)” at the beginning of subsection (e).