N.D. Cent. Code § 10-19.1-35
This is the official text of N.D. Cent. Code § 10-19.1-35, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-19.1-35. Terms of directors
Official statutory text
10-19.1-35. Terms of directors
1. With respect to length of terms:
a. Unless fixed terms are provided for in the articles or bylaws, a director serves for
an indefinite term that expires at the next regular meeting of the shareholders.
(1) A fixed term of a director, other than an ex officio director, may not exceed
five years.
(2) An ex officio director serves as long as the director holds the office or
position designated in the articles or bylaws.
b. Unless the articles or bylaws provide otherwise, a director holds office until
expiration of the term for which the director was elected or appointed and until a
successor is elected and has qualified, or until the earlier death, resignation,
removal, or disqualification of the director.
c. A decrease in the number of directors or term of office does not shorten an
incumbent director's term.
d. Except as provided in the articles or bylaws, the term of a director filling a
vacancy expires at the end of the unexpired term that the director is filling.
2. The articles or bylaws may provide for staggering the terms of directors by dividing the
total number of directors into groups. The terms of office of the groups need not be
uniform.
1. With respect to length of terms:
a. Unless fixed terms are provided for in the articles or bylaws, a director serves for
an indefinite term that expires at the next regular meeting of the shareholders.
(1) A fixed term of a director, other than an ex officio director, may not exceed
five years.
(2) An ex officio director serves as long as the director holds the office or
position designated in the articles or bylaws.
b. Unless the articles or bylaws provide otherwise, a director holds office until
expiration of the term for which the director was elected or appointed and until a
successor is elected and has qualified, or until the earlier death, resignation,
removal, or disqualification of the director.
c. A decrease in the number of directors or term of office does not shorten an
incumbent director's term.
d. Except as provided in the articles or bylaws, the term of a director filling a
vacancy expires at the end of the unexpired term that the director is filling.
2. The articles or bylaws may provide for staggering the terms of directors by dividing the
total number of directors into groups. The terms of office of the groups need not be
uniform.
Status: in_force · Read it on the official government site
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