Idaho § 30-29-809 REMOVAL OF DIRECTORS BY JUDICIAL PROCEEDING

Idaho Statutes

§ 30-29-809 — REMOVAL OF DIRECTORS BY JUDICIAL PROCEEDING

Idaho·Title 30 CORPORATIONS·Part 8 DIRECTORS AND OFFICERS·Ch. 29 GENERAL BUSINESS CORPORATIONS

(a)The Idaho district court of the county where a corporation’s principal office is located, or, if none in this state, Ada county, may remove a director from office or may order other relief, including barring the director from reelection for a period prescribed by the court, in a proceeding commenced by or in the right of the corporation if the court finds that:

(1)The director engaged in fraudulent conduct with respect to the corporation or its shareholders, grossly abused the position of director, or intentionally inflicted harm on the corporation; and

(2)Considering the director’s course of conduct and the inadequacy of other available remedies, removal, or other such relief would be in the best interest of the corporation.

(b)A shareholder proceeding on behalf of the corporation

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(a) The Idaho district court of the county where a corporation’s principal office is located, or, if none in this state, Ada county, may remove a director from office or may order other relief, including barring the director from reelection for a period prescribed by the court, in a proceeding commenced by or in the right of the corporation if the court finds that:
(1) The director engaged in fraudulent conduct with respect to the corporation or its shareholders, grossly abused the position of director, or intentionally inflicted harm on the corporation; and
(2) Considering the director’s course of conduct and the inadequacy of other available remedies, removal, or other such relief would be in the best interest of the corporation.
(b) A shareholder proceeding on behalf of the corporation under subsection (a) of this section shall comply with all of the requirements of sections 30-29-740 through 30-29-747, Idaho Code, except section 30-29-741 (a), Idaho Code.

Idaho § 30-29-809 (REMOVAL OF DIRECTORS BY JUDICIAL PROCEEDING) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.