DIMMICK, J.
This appeal raises the question of whether the failure of shareholders of a Washington corporation to elect new directors at two successive annual meetings is, by itself, sufficient grounds for dissolution of a corporation under RCW 23A.28.170(1)(c). The trial court held that it was and appointed a receiver to take charge of the dissolution.
We conclude that this provision is not mandatory, but gives the court jurisdiction to exercise its discretion...
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