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Condo Buy Called Arm’s Length, But Was Arm Long Enough?

Board IQ

15 Jan 2019

Is it appropriate for an independent board member to purchase real estate that benefits management-related parties? Morrison & Foerster’s Kelley A. Howes explains in the Board IQ article “Condo Buy Called Arm’s Length, But Was Arm Long Enough?”

“You can effectively be affiliated if you are engaged in a transaction that is more than de minimis,” she said. “Depending on the board structure, if one board member all of a sudden is not independent, that can screw up everything.”

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