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Board Director misconduct proceedingsApr 10, 2013

Has anyone gone through the process of charging a Board member for misconduct? What is entailed to do so?

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Reply - Ano Apr 12, 2013

The process of shareholders changing a Board member should be detailed in the Corporation's Bylaws which may not require identification of misconduct. NY BCL and those Bylaws often do not provide a reasonable way to obtain evidence of misconduct as much of a Board's action and those of its members are kept secret or out of plain view. Criminal actions of Boards or their members would be handled separately by appropriate legal authorities.

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