The Meter is Running
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41 legal experts on game-changing laws, rules, and cases.
AUTHORDean Roberts, Member, Norris McLaughlin
PAGE #p. 44
BCL SEC. 706
Any or all of the directors may be removed for cause by vote of the shareholders. The certificate of incorporation or the specific provisions of a bylaw adopted by the shareholders may provide for such removal by action of the board.
"Oftentimes, serious problems arise on boards. When they become very serious, the board may find itself in a position of having to remove a director. If you find yourself in a situation where your board is considering this option, it’s very important that you lay out a clear path and a procedure that follows the legal requirements of your corporate documents."
To read the full lecture, visit: http://bit.ly/D-Roberts