16-6a-805 - Terms of directors generally.
16-6a-805. Terms of directors generally.
(1) (a) The bylaws may specify the terms of directors.
(b) In the absence of any term specified in the bylaws, the term of each director shall beone year.
(c) Unless otherwise provided in the bylaws, directors may be elected for successiveterms.
(2) Unless otherwise provided in the bylaws, the terms of the initial directors of anonprofit corporation expire at the first meeting at which directors are elected or appointed.
(3) A decrease in the number of directors or in the term of office does not shorten anincumbent director's term.
(4) Unless otherwise provided in the bylaws, the term of a director filling a vacancyexpires at the end of the unexpired term that the director is filling, except that if a director iselected to fill a vacancy created by reason of an increase in the number of directors, the term ofthe director shall expire on the later of:
(a) the next meeting at which directors are elected; or
(b) the term, if any, designated for the director at the time of the creation of the positionbeing filled.
(5) Unless otherwise provided in the bylaws, despite the expiration of a director's term, adirector continues to serve until:
(a) the director's successor is elected, appointed, or designated and qualifies; or
(b) there is a decrease in the number of directors.
(6) A director whose term has expired may deliver to the division for filing a statement tothat effect pursuant to Section 16-6a-1608.
Amended by Chapter 127, 2001 General Session