HB 1139 - DIGEST

(DIGEST AS ENACTED)

     Authorizes the superior court of the county where a corporation's principal office, or, if none in this state, its registered office, is located to remove a director of the corporation from office in a proceeding commenced by the corporation if the court finds that:  (1) The director engaged in fraudulent or dishonest conduct with respect to the corporation; and

     (2) removal is in the best interest of the corporation.

     Authorizes the court that removes a director to bar the director from reelection for a period prescribed by the court.