(b) With respect to any related party transaction involving a charitable corporation and in which a related party has a substantial financial interest, the board of such corporation, or an authorized committee thereof, shall:

1. (1) Prior to entering into the transaction, consider alternative transactions to the extent available;
2. (2) Approve the transaction by not less than a majority vote of the directors or committee members present at the meeting; and
3. (3) Contemporaneously document in writing the basis for the board or authorized committee's approval, including its consideration of any alternative transactions.

(f) The attorney general may bring an action to enjoin, void or rescind any related party transaction or proposed related party transaction that violates any provision of this chapter or was otherwise not reasonable or in the best interests of the corporation at the time the transaction was approved, or to seek restitution, and the removal of directors or officers, or seek to require any person or entity to:

1. (1) Account for any profits made from such transaction, and pay them to the corporation;
2. (2) Pay the corporation the value of the use of any of its property or other assets used in such transaction;
3. (3) Return or replace any property or other assets lost to the corporation as a result of such transaction, together with any income or appreciation lost to the corporation by reason of such transaction, or account for any proceeds of sale of such property, and pay the proceeds to the corporation together with interest at the legal rate; and
4. (4) Pay, in the case of willful and intentional conduct, an amount up to double the amount of any benefit improperly obtained.