17-7212.Appointment of custodian for close corporation, when.
(a) In addition to the provisions of K.S.A. 17-6516,
respecting the appointment of a custodian for any corporation, the
district court, upon application of any stockholder, may appoint one or
more persons to be custodians, and, if the corporation is insolvent, to
be receivers, of any close corporation when:
(1) Pursuant to K.S.A. 17-7211 the business and
affairs of the corporation are managed by the stockholders and they are
so divided that the business of the corporation is suffering or is
threatened with irreparable injury, and any remedy with respect to such
deadlock provided in the articles of incorporation or bylaws or in any
written agreement of the stockholders has failed; or
(2) The petitioning stockholder has the right to dissolution of the
corporation under a provision of the articles of incorporation permitted
by K.S.A. 17-7215.
(b) In lieu of appointing a custodian for a close corporation under
this section or K.S.A. 17-6516 the court may appoint a
provisional director, whose powers and status shall be as provided in
K.S.A. 17-7213, if the court determines that it would
be in the best interest of the corporation. Such appointment shall not
preclude any subsequent order of the court appointing a custodian for
such corporation.
17-7212.Appointment of custodian for close corporation, when.
(a) In addition to the provisions of K.S.A. 17-6516,
respecting the appointment of a custodian for any corporation, the
district court, upon application of any stockholder, may appoint one or
more persons to be custodians, and, if the corporation is insolvent, to
be receivers, of any close corporation when:
(1) Pursuant to K.S.A. 17-7211 the business and
affairs of the corporation are managed by the stockholders and they are
so divided that the business of the corporation is suffering or is
threatened with irreparable injury, and any remedy with respect to such
deadlock provided in the articles of incorporation or bylaws or in any
written agreement of the stockholders has failed; or
(2) The petitioning stockholder has the right to dissolution of the
corporation under a provision of the articles of incorporation permitted
by K.S.A. 17-7215.
(b) In lieu of appointing a custodian for a close corporation under
this section or K.S.A. 17-6516 the court may appoint a
provisional director, whose powers and status shall be as provided in
K.S.A. 17-7213, if the court determines that it would
be in the best interest of the corporation. Such appointment shall not
preclude any subsequent order of the court appointing a custodian for
such corporation.
17-7212.Appointment of custodian for close corporation, when.
(a) In addition to the provisions of K.S.A. 17-6516,
respecting the appointment of a custodian for any corporation, the
district court, upon application of any stockholder, may appoint one or
more persons to be custodians, and, if the corporation is insolvent, to
be receivers, of any close corporation when:
(1) Pursuant to K.S.A. 17-7211 the business and
affairs of the corporation are managed by the stockholders and they are
so divided that the business of the corporation is suffering or is
threatened with irreparable injury, and any remedy with respect to such
deadlock provided in the articles of incorporation or bylaws or in any
written agreement of the stockholders has failed; or
(2) The petitioning stockholder has the right to dissolution of the
corporation under a provision of the articles of incorporation permitted
by K.S.A. 17-7215.
(b) In lieu of appointing a custodian for a close corporation under
this section or K.S.A. 17-6516 the court may appoint a
provisional director, whose powers and status shall be as provided in
K.S.A. 17-7213, if the court determines that it would
be in the best interest of the corporation. Such appointment shall not
preclude any subsequent order of the court appointing a custodian for
such corporation.