The superior court may, at the suit of the board or the shareholders holding at least 10 percent of the number of outstanding shares of any class, remove from office a director for fraudulent or dishonest acts, gross neglect of duty, or gross abuse of authority or discretion with reference to the corporation and may bar from reelection a director removed in that manner for a period prescribed by the court. The corporation shall be made a party to the suit.
Structure Alaska Statutes
Title 10. Corporations and Associations
Chapter 06. Alaska Corporations Code
Article 6. Directors, Officers, Employees, and Agents.
Sec. 10.06.450. Board of directors; duty of care; right of inspection; dissent.
Sec. 10.06.453. Number, election, and tenure of directors; initial directors.
Sec. 10.06.455. Classification of directors.
Sec. 10.06.458. Declaration of board vacancy where director of unsound mind.
Sec. 10.06.460. Removal of director without cause.
Sec. 10.06.463. Removal of director by superior court.
Sec. 10.06.465. Vacancies and resignation; special meeting of shareholders.
Sec. 10.06.468. Executive and other board committees.
Sec. 10.06.470. Meetings: call, place, notice, and waiver.
Sec. 10.06.473. Quorum of directors.
Sec. 10.06.475. Alternative meeting arrangements; informal action by directors.
Sec. 10.06.478. Director conflicts of interest.
Sec. 10.06.480. Liability of directors and contributions from shareholders and other directors.
Sec. 10.06.483. Officers; tenure, resignation, authority, and duties.
Sec. 10.06.485. Loans to directors, officers, and employees.
Sec. 10.06.490. Indemnification of officers, directors, employees, and agents; insurance.