(a) If the ground for the complaint for involuntary dissolution of the corporation is a deadlock in the board as set out in AS 10.06.628(b)(2), the court may appoint a provisional director.
(b) A provisional director shall be an impartial person, who is neither a shareholder nor a creditor of the corporation, nor related according to the common law by consanguinity or affinity within the third degree to a director of the corporation or to a judge of the court by which the provisional director is appointed. A provisional director has all the rights and powers of a director until the deadlock in the board is broken or until the provisional director is removed by order of the court or by approval of the outstanding shares.
(c) Unless otherwise agreed the compensation of the provisional director shall be fixed by the court.
Section: Previous 10.06.623 10.06.625 10.06.628 10.06.630 10.06.633 10.06.635 10.06.638 10.06.640 10.06.643 10.06.645 10.06.648 10.06.650 10.06.653 10.06.655 10.06.658 NextLast modified: November 15, 2016