§ 8-4-1-7 — Meetings of shareholders; annual report; removal of officers

At a regular meeting of the stockholders of any
such corporation, it shall be the duty of the president and directors in
office for the preceding year to exhibit a clear and distinct statement of
the affairs of said company; and at any meeting of the stockholders, a
majority of those present, in person or by proxy, may require similar
statements from the directors, whose duty it shall be to furnish them
when thus required: and at all general meetings of the stockholders, a
majority in value of the stockholders in such company may remove any
president or any director of such company, and elect another in their
stead; provided, notice of such intended removal shall have been given
as required in sections 5 and 6 of this chapter.
Formerly: Acts 1852, 1RS, c.83, s.6. As amended by
P.L.62-1984, SEC.36.