California Corporations Code

§ 5223

CORP § 5223Div. 2 · Title 1 · Part 2 · Ch. 2 · Art. 2

Statute text

(a)The superior court of the proper county may, at the suit of a director, or twice the authorized number (Section 5036) of members or 20 members, whichever is less, remove from office any director in case of fraudulent or dishonest acts or gross abuse of authority or discretion with reference to the corporation or breach of any duty arising under Article 3 (commencing with Section 5230) of this chapter, and may bar from reelection any director so removed for a period prescribed by the court. The corporation shall be made a party to such action.

(b)The Attorney General may bring an action under subdivision (a), may intervene in such an action brought by any other party and shall be given notice of any such action brought by any other party.

Legislative history

Amended by Stats. 1981, Ch. 587, Sec. 6.