Ariz. Biltmore Hotel Villas Condos. Ass’n v. Conlon Grp. Ariz., LLC (6/23/2020)

July 29, 2020
Arizona Court of Appeals Division One defines the limits of the procedural safe harbor in the Arizona Nonprofit Corporation Act (the “Nonprofit Act”) and holds that if a director discloses facts about one transaction, the safe harbor for that transaction does not extend to a later, distinct transaction even if the later transaction has a related subject matter or could loosely be considered a continuation of the earlier transaction.