Sec. 33-766. Resignation and removal of officers.
Sec. 33-766. Resignation and removal of officers. (a) An officer may resign at
any time by delivering notice to the corporation. A resignation is effective when the
notice is delivered unless the notice specifies a later effective time. If a resignation is
made effective at a later time and the board of directors or the appointing officer accepts
the future effective time, the board or the appointing officer may fill the pending vacancy
before the effective time if the board or the appointing officer provides that the successor
does not take office until the effective time.
(b) An officer may be removed at any time with or without cause by: (1) The board
of directors, (2) the officer who appointed such officer, unless the bylaws provide otherwise, or (3) any other officer if authorized by the bylaws or the board of directors.
(c) In this section, "appointing officer" means the officer, including any successor
to that officer, who appointed the officer resigning or being removed.
(P.A. 94-186, S. 105, 215; P.A. 01-199, S. 12.)
History: P.A. 94-186 effective January 1, 1997; P.A. 01-199 amended Subsec. (a) to replace "date" with "time" where
appearing and add references to "the appointing officer" in provision re filling of a pending vacancy when a resignation
is made effective at a later time, amended Subsec. (b) to rephrase provisions, designate as Subdiv. (1) provision re removal
by the board of directors, add Subdiv. (2) re removal by the officer who appointed such officer and add Subdiv. (3) re
removal by any other officer authorized by the bylaws or board of directors and added Subsec. (c) to define "appointing
officer".
Annotations to former section 33-48:
An officer annually elected usually holds office until his successor is chosen. 6 C. 428; 9 C. 536; 80 C. 42; 81 C. 473.
Surety on bond of officer annually elected is liable only for acts or defaults within the year. 28 C. 387. The performance
of a ministerial duty by an officer may be enforced by mandamus. 65 C. 355. What determines authority of officer; apparent
authority and estoppel of corporation. 69 C. 573; 71 C. 669. Admissions of officers when admissible against corporation.
72 C. 130; 88 C. 415. Notice to officer as notice to corporation. 76 C. 476; 82 C. 508. General officers represent and, in
effect, are corporation. 79 C. 219; 85 C. 147. Contract signed by officers as contract of corporation. 85 C. 215; 88 C. 385.
Officers as trustees; jurisdiction of equity to restrain waste and mismanagement. 87 C. 656. When resignation of officer
takes effect. 88 C. 332. Officers of a corporation must be chosen in accordance with statutory method; effect of contract
by vice president to hire a person as secretary without vote of directors. 97 C. 652. Corporation not liable for negligence
of president in operating its automobile on his private business. 99 C. 720. Contract between president and corporation;
duty of president not to engage in secret competition with corporation. 102 C. 184. Cited. 141 C. 325.
Annotation to former section 33-319:
Cited. 150 C. 242.