35-1-939. (Temporary) Discretion of court to grant relief other than dissolution. (1) In any action filed by a shareholder or director to dissolve the corporation on the grounds enumerated in 35-1-938, the court may make any order to grant the relief other than dissolution as, in its discretion, it considers appropriate, including, without limitation, an order:
(a) canceling or altering any provision contained in the articles of incorporation, in any amendment of the articles of incorporation, or in the bylaws of the corporation;
(b) canceling, altering, or enjoining any resolution or other act of the corporation;
(c) directing or prohibiting any act of the corporation or of shareholders, directors, officers, or other persons party to the action; or
(d) providing for the purchase at fair value of shares of any shareholder, either by the corporation or by other shareholders.
(2) Relief under subsection (1) may be granted as an alternative to a decree of dissolution or may be granted whenever, under the circumstances of the case, relief but not dissolution would be appropriate. (Repealed effective June 1, 2020--secs. 269, 274, Ch. 271, L. 2019.)
History: En. Sec. 155, Ch. 368, L. 1991.
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