Maine Reduction in Authorized Number of Directors
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How to fill out Reduction In Authorized Number Of Directors?
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FAQ
How do you remove a director from a company? In many companies, the power to remove a director from office is granted to the board of directors or to a majority of the shareholders under the company's articles of association.
The most common method is through a vote of the other directors. In order to remove a director in this manner, the board must first give the director notice of the meeting at which the removal will be voted on. The director must then be given an opportunity to present their side of the story before the vote is taken.
The board of directors normally can remove a corporate officer at any time with or without cause. A director or officer is not liable to the corporation for a bad business decision. Directors are entitled to use confidential corporate information for their personal advantage.
Directors have the power to remove officers as long as they are empowered to appoint them, and are not required to provide a reason for the removal.
A Special notice - Resolution to Remove a Director must be given to the company at least 28 clear days before the meeting at which an ordinary resolution for the removal of a director before the expiration of his/her period of office is passed.