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Law Pro
Law Pro, Attorney
Category: Business Law
Satisfied Customers: 1673
Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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I was elected to the board of directors one year ago. this

Customer Question

I was elected to the board of directors one year ago. this yera's election the board majority put my seat up for removal by way of a resolution (i was under the impression that board members cannot remove another board member no matter how they manueva around it). There are 1144 qualified stockholders and 457 voted. Alledgely 272 of of the 457 voted in favor. It is my understanding that 2/3 or 25% of the stock holders (1144) would have to vote in favor, and not the majority of the 457 who voted. Am i correct in my accessment? what is the correct and legal answer.
Submitted: 4 years ago.
Category: Business Law
Expert:  Law Pro replied 4 years ago.

It all depends on the By-Laws and what they say as to how many it takes.

 

Do you have a copy of the By-Laws? If so, what does it state about a quorum?

Customer: replied 4 years ago.
The by laws makes no provision for the removal of a director or it will be an open and shut case. However the BCL does. Just the same the procedures followed by the board members and the corporate counsel is not in compliance with the BCL.
Expert:  Law Pro replied 4 years ago.
What does the BCL state with regards XXXXX XXXXX specifically?
Customer: replied 4 years ago.
I am not the attorney, you are!

PLEASE DO NOT RESPOND!!!!!!!!!!!!!

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