§ 13.1-858. Staggered terms of directors
A. The articles of incorporation may provide for staggering the terms of directors by dividing the total number of directors into groups, and the terms of office of the several groups need not be uniform.
B. If the articles of incorporation permit cumulative voting, any provision establishing staggered terms of directors shall provide that at least three directors shall be elected at each annual members' meeting.
(Code 1950, § 13.1-221; 1956, c. 428; 1985, c. 522; 1987, c. 140; 1989, c. 419; 2007, c. 925.)
Sections: Previous 13.1-852.1 13.1-852.2 13.1-853 13.1-854 13.1-855 13.1-856 13.1-857 13.1-858 13.1-859 13.1-860 13.1-861 13.1-862 13.1-863 13.1-864 13.1-865 NextLast modified: April 2, 2009