311.061 Stock ownership not deemed financial interest, when.

311.061. Stock ownership not deemed financial interest, when. — Notwithstanding the definition of "financial interest" contained in section 311.060 , service as a member of the board of directors of a corporation, the stock of which is traded on the New York or American Stock Exchange or NASDAQ, or ownership of less than ten percent of the outstanding shares in such corporation, shall not constitute a financial interest in such corporation or a subsidiary thereof. (L. 1985 H.B. 166, A.L. 1994 S.B. 474)