(1) The bylaws may state the terms of directors. In the absence of any term stated in the bylaws, the term of each director shall be one year. Unless otherwise provided in the bylaws, directors may be elected for successive terms.
Unless otherwise provided in the bylaws, the terms of the initial directors of a nonprofit corporation expire at the first meeting at which directors are elected or appointed.
A decrease in the number of directors or in the term of office does not shorten anincumbent director's term.
Unless otherwise provided in the bylaws, the term of a director filling a vacancyexpires at the end of the unexpired term that such director is filling.
Despite the expiration of a director's term, a director continues to serve until thedirector's successor is elected, appointed, or designated and qualifies, or until there is a decrease in the number of directors.
Repealed.
Source: L. 97: Entire article added, p. 689, § 3, effective July 1, 1998. L. 98: (6) added, p. 623, § 28, effective July 1. L. 2000: (6) amended, p. 983, § 81, effective July 1. L. 2002: (6) amended, p. 1855, § 136, effective July 1; (6) amended, p. 1720, § 138, effective October 1. L. 2003: (1) amended, p. 2340, § 302, effective July 1, 2004. L. 2004: (6) repealed, p. 1511, § 296, effective July 1.