Source: http://dccode.elaws.us/code?no=29-3%7CVI%7CA&e=8
Timestamp: 2019-12-12 01:36:34
Document Index: 216801011

Matched Legal Cases: ['§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29', '§ 29']

§ 29-306.01. Requirement for and functions of board of directors.
(b) All corporate powers shall be exercised by or under the authority of the board of directors of the corporation and the business and affairs of the corporation shall be managed by or under the direction, and subject to the oversight, of its board of directors, subject to any limitation set forth in the articles of incorporation or in an agreement authorized under § 29- 305.42.
(c) In the case of a public corporation, the board's oversight responsibilities shall include attention to:
(4) Policies and practices to foster the corporation's compliance with law and ethical conduct;
(5) Preparation of the corporation's financial statements;
(6) The effectiveness of the corporation's internal controls;
§ 29-306.02. Qualifications of directors.
§ 29-306.03. Number and election of directors.
(c) Directors shall be elected at the 1st annual shareholders' meeting and at each annual meeting thereafter unless their terms are staggered under § 29- 306.06.
§ 29-306.04. Election of directors by certain classes of shareholders.
§ 29-306.05. Terms of directors generally.
(a) The terms of the initial directors of a corporation expire at the 1st shareholders' meeting at which directors are elected.
(b) The terms of all other directors shall expire at the next, or if their terms are staggered in accordance with § 29-306.06, at the applicable 2nd or 3rd, annual shareholders' meeting following their election, except to the extent:
(c) A decrease in the number of directors shall not shorten an incumbent director's term.
(d) The term of a director elected to fill a vacancy shall expire at the next shareholders' meeting at which directors are elected.
(e) Except to the extent otherwise provided in the articles of incorporation or under § 29-308.22, if a bylaw electing to be governed by that section is in effect, despite the expiration of a director's term, the director shall continue to serve until the director's successor is elected and qualifies or there is a decrease in the number of directors.
§ 29-306.06. Staggered terms for directors.
The articles of incorporation may provide for staggering the terms of directors by dividing the total number of directors into 2 or 3 groups, with each group containing 1/2 or 1/3 of the total, as near as may be practicable. In that event, the terms of directors in the 1st group expire at the 1st annual shareholders' meeting after their election, the terms of the 2nd group expire at the 1st annual shareholders' meeting after their election, and the terms of the 3rd group, if any, expire at the 3rd annual shareholders' meeting after their election. At each annual shareholders' meeting held thereafter, directors shall be chosen for a term of 2 years or 3 years, as the case may be, to succeed those whose terms expire.
§ 29-306.07. Resignation of directors.
§ 29-306.08. Removal of directors by shareholders.
§ 29-306.09. Removal of directors by judicial proceeding.
(2) Considering the director's course of conduct and the inadequacy of other available remedies, removal would be in the best interest of the corporation.
§ 29-306.10. Vacancy on board.
§ 29-306.11. Compensation of directors.