§ 22. Permissible relations. (1) Notwithstanding any rule at common
law or any provision of any general, special or local law, the
corporation may purchase from, sell to, borrow from, loan to, contract
with or otherwise deal with any person, corporation, trust, association,
partnership or other entity which is a member of the corporation and/or
in which any director of the corporation has a financial interest,
direct or indirect, provided that such interest is disclosed in the
minutes of the corporation and provided further that no director having
such a financial interest may participate in any decision affecting such
transaction.