Terms of directors generally

  1. Law
  2. Arkansas Code
  3. Business and Commercial Law
  4. Corporations and Associations
  5. Business Corporation Act of 1987
  6. Directors — Officers — Meetings — Standards of Conduct — Indemnification
  7. Board of Directors
  8. Terms of directors generally

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  1. (a) The terms of the initial directors of a corporation expire at the first shareholders' meeting at which directors are elected.

  2. (b) The terms of all other directors expire at the next annual shareholders' meeting following their election unless their terms are staggered under § 4-27-806.

  3. (c) A decrease in the number of directors does not shorten an incumbent director's term.

  4. (d) The term of a director elected to fill a vacancy expires at the next shareholders' meeting at which directors are elected.

  5. (e) Despite the expiration of a director's term, he continues to serve until his successor is elected and qualifies or until there is a decrease in the number of directors.


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