Sec. 33-1090. Removal of directors by judicial proceeding.
Sec. 33-1090. Removal of directors by judicial proceeding. (a) The superior
court for the judicial district where a corporation's principal office or, if none in this
state, its registered office is located may remove a director of the corporation from office
in a proceeding commenced either by the corporation or by its members holding at least
ten per cent of the voting power of any class if the court finds that (1) the director engaged
in fraudulent or dishonest conduct or gross abuse of authority or discretion, with respect
to the corporation and (2) removal is in the best interest of the corporation.
(b) The court that removes a director may bar the director from serving on the board
for a period prescribed by the court.
(c) If members commence a proceeding under subsection (a) of this section, they
shall make the corporation a party defendant.
(P.A. 96-256, S. 66, 209.)
History: P.A. 96-256 effective January 1, 1997.