2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.809 - REMOVAL OF DIRECTORS BY JUDICIAL PROCEEDING.

        490.809  REMOVAL OF DIRECTORS BY JUDICIAL
      PROCEEDING.
         1.  The district court of the county where a corporation's
      principal office or, if none in this state, its registered office is
      located may remove a director of the corporation from office in a
      proceeding commenced by or in the right of the corporation if the
      court finds that both of the following apply:
         a.  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.
         b.  Considering the director's course of conduct and the
      inadequacy of other available remedies, removal would be in the best
      interest of the corporation.
         2.  A shareholder proceeding on behalf of the corporation under
      subsection 1 shall comply with all of the requirements of division
      VII, part D, except section 490.741.
         3.  The court, in addition to removing the director, may bar the
      director from reelection for a period prescribed by the court.
         4.  This section does not limit the equitable powers of the court
      to order other relief.  

         89 Acts, ch 288, §80; 2002 Acts, ch 1154, §33, 125