§ 55-8-44. Contract rights of officers.
§55‑8‑44. Contract rights of officers.
(a) The appointment ofan officer does not itself create contract rights.
(b) An officer'sremoval does not itself affect the officer's contract rights, if any, with thecorporation. An officer's resignation does not affect the corporation'scontract rights, if any, with the officer. (1901, c. 2, ss. 15, 16, 17;Rev., ss. 1149, 1150, 1151; C.S., s. 1145; G.S., s. 55‑49; 1955, c. 1371,s. 1; 1959, c. 1316, s. 9; 1973, c. 1217; 1989, c. 265, s. 1.)