Source: https://law.justia.com/codes/vermont/2011/title11b/chapter8/section5/
Timestamp: 2020-02-20 07:03:49
Document Index: 605149782

Matched Legal Cases: ['§ 8', '§ 5', '§ 5', '§ 5', '§ 8', '§ 8', '§ 1']

11B VT Stats § 8.05. :: § 5 Terms of directors generally :: 2011 Vermont Code :: US Codes and Statutes :: US Law :: Justia
Justia US Law US Codes and Statutes Vermont Code 2011 Vermont Code Title 11B Nonprofit Corporations Chapter 8 DIRECTORS AND OFFICERS § 5 Terms of directors generally
§ 5 Terms of directors generally
11B VT Stats § 8.05. (2011 through Adj Sess) What's This?
§ 8.05. Terms of directors generally
(a) The articles of incorporation or bylaws must specify the terms of directors. Except for designated or appointed directors, the term of directors may not exceed six years. In the absence of any term specified in the articles of incorporation or bylaws, the term of each director shall be one year. Directors may be elected for successive terms.
(b) A decrease in the number of directors or term of office does not shorten an incumbent director's term.
(c) Except as provided in the articles of incorporation or bylaws:
(2) the term of a director filling any other vacancy expires at the end of the unexpired term which such director is filling.
(d) Despite the expiration of a director's term, the director continues to serve until the director's successor is elected, designated or appointed and qualifies, or until there is a decrease in the number of directors. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997.)