(a) The circuit court of the county where a corporation's principal office is located may remove any director of the corporation from office in a proceeding commenced either by the corporation or its members holding at least ten percent (10%) of the voting power of any class, if the court finds that (1) the director engaged in fraudulent or dishonest conduct, or gross abuse of authority or discretion, with respect to the corporation, or a final judgment has been entered finding that the director has violated a duty set forth in §§ 4-33-830 — 4-33-833, and (2) removal is in the best interest of the corporation.
(b) The court that removes a director may bar the director from serving on the board for a period prescribed by the court.
(c) The articles or bylaws of a religious corporation may limit or prohibit the application of this section.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 33 - The Arkansas Nonprofit Corporation Act of 1993
Subchapter 8 - Directors and Officers
§ 4-33-801. Requirement for and duties of board
§ 4-33-802. Qualification of directors
§ 4-33-803. Number of directors
§ 4-33-804. Election, designation and appointment of directors
§ 4-33-805. Terms of directors generally
§ 4-33-806. Staggered terms for directors
§ 4-33-807. Resignation of directors
§ 4-33-808. Removal of directors elected by members or directors
§ 4-33-809. Removal of designated or appointed directors