BlueSKy

You are here

Does statute of limitations apply to removal of director?

Does statute of limitations apply to removal of director?

Does statute of limitations apply to removal of director?

Does a statute of limitations apply to a statutory right of a director of a nonprofit corporation to ask a court to remove another director for fraudulent or dishonest acts? An appellate court in California has ruled that a four-year statute of limitations applies under the state’s nonprofit corporation law when the alleged fraudulent conduct occurred more than four years prior to the filing of suit. But the Court has also ruled that the plaintiff could amend her complaint and keep the cause of action alive by alleging other dishonest conduct occurring less than four years prior to the filing. Yelena Vishnevsky and Boris Zingerman were the sole shareholders, directors, and officers of a...

lock The full text of this article is available to paid subscribers only. Login or subscribe to read more

 

Sign-up for our weekly Q&A; get a free report on electioneering