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Current as of January 01, 2025 | Updated by Findlaw Staff
(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 percent of the voting power of any class, if the court finds all of the following:
(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.
(b) That removal is in the best interest of the corporation.
(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.
(3) Corporation as defendant. If members commence a proceeding under sub. (1), the corporation shall be made a party defendant.
Cite this article: FindLaw.com - Wisconsin Statutes Corporations (Ch. 180 to 188) § 181.0810. Removal of directors by judicial proceeding - last updated January 01, 2025 | https://codes.findlaw.com/wi/corporations-ch-180-to-188/wi-st-181-0810/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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