Title 14, Chapter 3, Section 813
( 14-3-813)
(a) If the directors of a corporation are deadlocked in the
management of the corporate affairs and the members are unable to
break the deadlock and if injury to the corporation is being
suffered or is threatened by reason thereof, the superior court may,
notwithstanding any provisions of the articles of incorporation or
bylaws of the corporation to the contrary and whether or not an
action is pending for an involuntary dissolution of the corporation,
appoint a provisional director pursuant to this Code section. (b) Action for such appointment may be filed by one-half of the
directors or by members holding not less than one-third of all the
votes entitled to be cast in an election of directors. Notice of
such action shall be served upon the directors, other than those who
have filed the action, and upon the corporation in the manner
provided by law for service of a summons and complaint, and a
hearing shall be held not less than ten days after such service is
effected. At such hearing all interested persons shall be given an
opportunity to be heard. (c) The provisional director shall be an impartial person who is
neither a member nor a creditor of the corporation nor related by
consanguinity or affinity within the third degree, as computed
according to the civil law, to any of the other directors of the
corporation or to any judge of the court by which he is appointed.
The provisional director shall have all the rights and powers of a
director and shall be entitled to notice of the meetings of the
board of directors and to vote at such meetings until he is removed
by order of the court or by vote or written consent of a majority of
the directors or of members holding a majority of the votes entitled
to be cast in an election of directors. He shall be entitled to
receive such compensation as may be agreed upon between him and the
corporation; and, in the absence of such agreement, he shall be
entitled to such compensation as shall be fixed by the court. |