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2018 Idaho Statutes
Title 30 - CORPORATIONS
Chapter 29 - GENERAL BUSINESS CORPORATIONS
Part 8 - DIRECTORS AND OFFICERS
Section 30-29-809 - REMOVAL OF DIRECTORS BY JUDICIAL PROCEEDING.
Universal Citation: ID Code § 30-29-809 (2018)
30-29-809. REMOVAL OF DIRECTORS BY JUDICIAL PROCEEDING. (1) 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 of the corporation from office in a proceeding commenced by or in the right of the corporation if the court finds that:
(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; and
(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) of this section shall comply with all the requirements of sections 30-29-741 through 30-29-747, Idaho Code, except section 30-29-741(1), Idaho Code.
(3) The court, in addition to removing the director, may bar the director from reelection for a period prescribed by the court.
(4) Nothing in this section limits the equitable powers of the court to order other relief.
History:
[30-29-809, added 2015, ch. 243, sec. 63, p. 928.]
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