Idaho Code 30-29-809 – Removal of Directors by Judicial Proceeding
Current as of: 2023 | Check for updates
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(a) 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 from office or may order other relief, including barring the director from reelection for a period prescribed by the court, in a proceeding commenced by or in the right of the corporation if the court finds that:
(1) 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
(2) Considering the director’s course of conduct and the inadequacy of other available remedies, removal, or other such relief would be in the best interest of the corporation.
Terms Used In Idaho Code 30-29-809
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114