2010 Wisconsin Code
Chapter 181. Nonstock corporations.
181.0810 Removal of directors by judicial proceeding.

181.0810

181.0810 Removal of directors by judicial proceeding.

181.0810(1)

(1) Grounds for removal. The circuit court for the county where a corporation's principal office is located may remove a director of the corporation from office in a proceeding commenced either by the corporation or by its members holding at least 10% of the voting power of any class, if the court finds all of the following:

181.0810(1)(a)

(a) That the director engaged in fraudulent or dishonest conduct, or gross abuse of authority or a final judgment has been entered finding that the director has violated a fiduciary duty or a duty under ss. 181.0831 to 181.0833.

181.0810(1)(b)

(b) That removal is in the best interest of the corporation.

181.0810(2)

(2) Bar from serving. A court that removes a director may bar the director from serving on the board for a period prescribed by the court.

181.0810(3)

(3) Corporation as defendant. If members commence a proceeding under sub. (1), the corporation shall be made a party defendant.

181.0810 - ANNOT.

History: 1997 a. 79.