S.C. Code Ann. § 33-8-109: Removal of directors by judicial proceeding.
Where this section sits in the code
- Title 33 - CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS
- CHAPTER 8 Directors and Officers
- ARTICLE 1 Board of Directors
(a) The circuit 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 either by the corporation or by its shareholders holding at least five percent of the outstanding shares of any class if the court finds that (1) the director engaged in fraudulent or dishonest acts, or gross abuse of authority in discharge of duties to the corporation, and (2) removal is in the best interest of the corporation.
(b) The court that removes a director may bar the director from reelection for a period prescribed by the court.
(c) If shareholders commence a proceeding under subsection (a), they shall make the corporation a party defendant.
Collected 2026-09-02T07:02:54Z. Source file · JSON