8.15.050 Removal of directors by judicial proceeding.
This section is included in your selections.
(a) The Tribal Court may remove a director from office following a proceeding commenced either by the corporation or shareholders holding at least 10 percent of the outstanding shares of any class, if the Court finds:
(1) The director engaged in fraudulent or dishonest conduct, or conduct evidencing a gross abuse of authority or discretion, with respect to the corporation; and
(2) Removal is in the best interests of the corporation.
(b) If the Court orders a director removed, it may bar the director from reelection for a period prescribed by the Court.
(c) If shareholders commence a proceeding under subsection (a) of this section, they shall make the corporation a party defendant. [Ord. 18 Part III § 5, adopted, 10/7/2008.]