(a) The terms of the initial directors of a corporation expire at the first meeting of members or directors for the election of directors or for such other period as may be specified in the articles of incorporation or bylaws. The articles or bylaws may specify the terms of directors. In the absence of any term specified in the articles or bylaws, the term of each director other than initial directors shall be one year. Directors may be elected for successive terms.
(b) A decrease in the number of directors or term of office does not shorten an incumbent director's term.
(c) A director elected to fill a vacancy shall be elected for the unexpired term of the director's predecessor in office.
(d) Despite the expiration of a director's term, the director continues to serve until the director's successor is elected, designated, or appointed and qualifies, or until there is a decrease in the number of directors.
Section: Previous 14-3-801 14-3-802 14-3-803 14-3-804 14-3-805 14-3-806 14-3-807 14-3-808 14-3-809 14-3-810 14-3-811 14-3-812 14-3-813 NextLast modified: October 14, 2016