§ 28-13-9-8 — Removal from office; meeting; notice

Indiana § 28-13-9-8

• Jurisdiction: Indiana
• Art. 13: CORPORATE GOVERNANCE
• Ch. 9: Board of Directors Generally

Text

(a) Directors may be removed in any manner
provided in the articles of incorporation. In addition, the shareholders
or directors may remove one (1) or more directors for cause or, unless
the articles of incorporation provide otherwise, without cause.
(b) If a director is elected by a voting group of shareholders, only
the shareholders of that voting group may participate in the vote to
remove that director.
(c) A director may be removed only if the number of votes cast to
remove the director exceeds the number of votes cast not to remove the
director.
(d) A director may be removed by the shareholders, if the
shareholders are otherwise authorized to do so, only at a meeting called
for the purpose of removing the director. The meeting notice must state
that the purpose, or one (1) of the purposes, of the meeting, is removal
of the director.

Legislative History

As added by P.L.14-1992, SEC.163.