N.D. Cent. Code § 10-33-37
This is the official text of N.D. Cent. Code § 10-33-37, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-33-37. Removal of directors by judicial proceeding
Official statutory text
10-33-37. Removal of directors by judicial proceeding
1. The district court of the county in which the principal executive office of a corporation is
located may remove any director of the corporation from office in a proceeding
commenced either by the corporation, its members holding at least ten percent of the
voting power of any class of shares, or the attorney general, if the court finds:
a. The director engaged in fraudulent or dishonest conduct, or gross abuse of
authority or discretion, with respect to the corporation;
b. That the provisions of subsection 2 of section 10-33-27 have been violated; or
c. Final judgment has been entered finding the director has violated section
10-33-45.
2. The court that removes a director may bar the director from serving on the board for a
period prescribed by the court.
3. If members or the attorney general commence a proceeding under subdivision a of
subsection 1, then the corporation must be made a party defendant.
4. If a corporation or its members commence a proceeding under subsection 1, they
must give the attorney general written notice of the proceeding.
1. The district court of the county in which the principal executive office of a corporation is
located may remove any director of the corporation from office in a proceeding
commenced either by the corporation, its members holding at least ten percent of the
voting power of any class of shares, or the attorney general, if the court finds:
a. The director engaged in fraudulent or dishonest conduct, or gross abuse of
authority or discretion, with respect to the corporation;
b. That the provisions of subsection 2 of section 10-33-27 have been violated; or
c. Final judgment has been entered finding the director has violated section
10-33-45.
2. The court that removes a director may bar the director from serving on the board for a
period prescribed by the court.
3. If members or the attorney general commence a proceeding under subdivision a of
subsection 1, then the corporation must be made a party defendant.
4. If a corporation or its members commence a proceeding under subsection 1, they
must give the attorney general written notice of the proceeding.
Status: in_force · Read it on the official government site
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