Hawaii Revised Statutes

Haw. Rev. Stat. § 414-262 (2026)

] Judicial action

✓ current as of July 2026

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[§414-262] Judicial action. (a) A transaction effected or proposed to be effected by a corporation (or by a subsidiary of the corporation or any other entity in which the corporation has a controlling interest) that is not a director's conflicting interest transaction may not be enjoined, set aside, or give rise to an award of damages or other sanctions, in a proceeding by a shareholder or by or in the right of the corporation, because a director of the corporation, or any person with whom or which the director has a personal, economic, or other association, has an interest in the transaction.

(b) A director's conflicting interest transaction may not be enjoined, set aside, or give rise to an award of damages or other sanctions, in a proceeding by a shareholder or by or in the right of the corporation, because the director, or any person with whom or which the director has a personal, economic, or other association, has an interest in the transaction, if:

(1) Directors' action respecting the transaction was at any time taken in compliance with section 414-263;

(2) Shareholders' action respecting the transaction was at any time taken in compliance with section 414-264; or

(3) The transaction, judged according to the circumstances at the time of commitment, is established to have been fair to the corporation. [L 2000, c 244, pt of §1]

Notes of Decisions

Cited in 1 case, 2009–2009 · leading case: Fisher v. Grove Farm Co., Inc., 230 P.3d 382 (Haw. App. 2009).

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Fisher v. Grove Farm Co., Inc., 230 P.3d 382 (Haw. App. 2009). · cites it 6× “) provides: § 414-262 Judicial action, (a) A transaction effected or proposed to be effected by a corporation (or by a subsidiary of the corporation or any other entity in which the corporation has a controlling interest) that is not a director’s conflicting interest transaction…”

— Haw. Rev. Stat. § 414-262(a) — 1 case

Fisher v. Grove Farm Co., Inc., 230 P.3d 382 (Haw. App. 2009). “) provides: § 414-262 Judicial action, (a) A transaction effected or proposed to be effected by a corporation (or by a subsidiary of the corporation or any other entity in which the corporation has a controlling interest) that is not a director’s conflicting interest transaction…”

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