35-9-502. Ordinary relief.

218 words·~1 min read·/mt/title-35/chapter-9/part-5/35-9-502

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35-9-502 . Ordinary relief.

(1)If the court finds that one or more of the grounds for relief described in 35-9-501

(1)exist, it may order one or more of the following types of relief:

(a)the performance, prohibition, alteration, or setting aside of any action of the corporation or of its shareholders, directors, or officers or any other party to the proceeding;

(b)the cancellation or alteration of any provision in the corporation's articles of incorporation or bylaws;

(c)the removal from office of any director or officer;

(d)the appointment of any individual as a director or officer;

(e)an accounting with respect to any matter in dispute;

(f)the appointment of a custodian to manage the business and affairs of the corporation;

(g)the appointment of a provisional director who has all the rights, powers, and duties of a duly elected director to serve for the term and under the conditions prescribed by the court;

(h)the payment of dividends;

(i)the award of damages to any aggrieved party.

(2)If the court finds that a party to the proceeding acted arbitrarily, vexatiously, or otherwise not in good faith, it may award one or more other parties their reasonable expenses, including counsel fees and the expenses of appraisers or other experts, incurred in the proceeding.