New Mexico Removal of two directors
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How to fill out Removal Of Two Directors?
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FAQ
Section 109(1) of the CBCA and section 122(1) of the OBCA provide that a director of a corporation may be removed by an ordinary resolution of the shareholders passed at a special meeting of shareholders called for that purpose.
A shareholder wishing to remove a director must give special notice of their intention to the company, which then has 28 days to call a general meeting. At this meeting, shareholders will vote on the proposed resolution. If it is passed by a simple majority, then the director will be removed from their position.
Thus, under the 2013 Act, a company can remove a director only in a general meeting by passing an ordinary resolution and if he has not been appointed as a director under the principle of proportional representation or under section 163.
The short answer is "Yes, a board of directors can remove a director." But, of course, there are conditions and exceptions to this rule.
As per section 169 of the Companies Act' 2013, The shareholders have the power to remove a director of the company by passing an ordinary resolution. If the director to be removed is an independent director, then a special resolution is needed to remove the director.
A director may be removed by: An ordinary resolution adopted at a shareholders' meeting by the persons entitled to exercise voting rights in the election of that director.
Ing to the 2013 Act, a company can only remove a director in a general meeting by passing an ordinary resolution. However, this applies only if the director was not appointed under the principle of proportional representation or under section 163.