New York § 716 Removal of officers

New York Statutes

§ 716 — Removal of officers

New York § 716

Law BSCBusiness Corporation

Art. 7Directors and Officers

This text of New York § 716 (Removal of officers) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Business Corporation § 716 (2026).

Text

§ 716. Removal of officers.\n  (a) Any officer elected or appointed by the board may be removed by\nthe board with or without cause. An officer elected by the shareholders\nmay be removed, with or without cause, only by vote of the shareholders,\nbut his authority to act as an officer may be suspended by the board for\ncause.\n  (b) The removal of an officer without cause shall be without prejudice\nto his contract rights, if any. The election or appointment of an\nofficer shall not of itself create contract rights.\n  (c) An action to procure a judgment removing an officer for cause may\nbe brought by the attorney-general or by ten percent of the votes of the\noutstanding shares, whether or not entitled to vote. The court may bar\nfrom re-election or reappointment any officer so removed f

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§ 716. Removal of officers.\n (a) Any officer elected or appointed by the board may be removed by\nthe board with or without cause. An officer elected by the shareholders\nmay be removed, with or without cause, only by vote of the shareholders,\nbut his authority to act as an officer may be suspended by the board for\ncause.\n (b) The removal of an officer without cause shall be without prejudice\nto his contract rights, if any. The election or appointment of an\nofficer shall not of itself create contract rights.\n (c) An action to procure a judgment removing an officer for cause may\nbe brought by the attorney-general or by ten percent of the votes of the\noutstanding shares, whether or not entitled to vote. The court may bar\nfrom re-election or reappointment any officer so removed for a period\nfixed by the court.\n