Document ID: General_Provisions_Article_8._§_55A-8-10._ Removal_of_directors_by_judicial_proceeding.

Title: {"article_title": "Article 8.", "section_title": "§ 55A-8-10.  Removal of directors by judicial proceeding.", "subchapter_title": "General Provisions", "type": "section"}

§ 55A-8-10.  Removal of directors by judicial proceeding. (a)	The superior court of the county where a corporation's principal office (or, if there is none in this State, its registered office) is located may remove any director of the corporation from office in a proceeding commenced either by the corporation or by its members holding at least ten percent (10%) of the votes entitled to be cast of any class of members, if the court finds that: (1)	The director engaged in fraudulent or dishonest conduct, or gross abuse of authority or discretion, with respect to the corporation, or a final judgment has been entered finding that the director has violated a duty set forth in G.S. 55A-8-30 through G.S. 55A-8-33, and (2)	Removal is in the best interest of the corporation. (b)	The court that removes a director may bar the director from serving on the board of directors for a period prescribed by the court. (c)	If members commence a proceeding under subsection (a) of this section, the corporation shall be made a party defendant. (1993, c. 398, s. 1.)