2025 Session
Last amended: 1982 session
§ 302A.207 — Terms
Plain-Language Summary
Sets the term of office for directors, generally until the next annual meeting.
302A.207 TERMS.
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. A fixed term of a director shall not exceed five years. A director holds office for the term for which the director was elected and until a successor is elected and has qualified, or until the earlier death, resignation, removal, or disqualification of the director.
History:
1981 c 270 s 29; 1982 c 497 s 24
History: History: 1981 c 270 s 29; 1982 c 497 s 24
Practical Notes
Directors serve until the next annual meeting and until their successors are elected.