TITLE XXVII
CORPORATIONS, ASSOCIATIONS, AND PROPRIETORS OF COMMON LANDS

CHAPTER 293-A
NEW HAMPSHIRE BUSINESS CORPORATION ACT

Directors and Officers

Section 293-A:8.09

    293-A:8.09 Removal of Directors by Judicial Proceeding. –
(a) The superior court of the county where a corporation's principal office (or, if none in this state, its registered office) is located may remove a director of the corporation from office in a proceeding commenced by or in the right of the corporation if the court finds that: (1) the director engaged in fraudulent conduct with respect to the corporation or its shareholders, grossly abused the position of director, or intentionally inflicted harm on the corporation; and (2) considering the director's course of conduct and the inadequacy of other available remedies, removal would be in the best interest of the corporation.
(b) A shareholder proceeding on behalf of the corporation under subsection (a) shall comply with all of the requirements of RSA 293-A:7.40 through RSA 293-A:7.47, except RSA 293-A:7.41(1).
(c) The court, in addition to removing the director, may bar the director from reelection for a period prescribed by the court.
(d) Nothing in this section limits the equitable powers of the court to order other relief.

Source. 2013, 142:1, eff. Jan. 1, 2014.