Seven years ago, I addressed the question of whether the board of directors of a California corporation could remove a fellow director:

Can a board of directors remove one of its own?  In the case of a California corporation, the answer is no.  The power to remove directors is vested in the shareholders and the superior court pursuant to Corporations Code Section 303 and 304.  While technically not a removal, one option may be available to a board.  Section 302 provides that the board may declare vacant the office of a director who has been declared of unsound mind by an order of court or convicted of a felony.

Nevada in contrast empowers directors to remove a fellow director when necessary to preserve a corporate license or registration:

If a court of competent jurisdiction, or other governmental entity or regulatory agency with authority over the corporation, requires, without providing any other reasonable and practicable alternative, that any specified director of a corporation cease to be a director in order for the corporation to obtain, or avoid the suspension, conditioning or revocation of, any permit, license, registration, franchise, finding of suitability or similar authorization or approval required for the conduct of all or any material portion of the business of the corporation or any of its affiliates taken as a whole and such requirement is not appealable or has otherwise become final after declination or exhaustion of all appeals therefrom, then that specified director may be removed as a director by not less than a majority of the voting power of the other directors, even if less than a quorum, acting at a meeting and not by written consent and without a vote of the stockholders.

NRS 78.335(8).  One example of a corporate license requirement that could be is subject to this statute is Nevada's Gaming Control Commission Rule 16.415 which may require a director of a corporate licensee to be investigated and found suitable in order for the corporation to hold a gaming license.

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