490.805 - TERMS OF DIRECTORS GENERALLY.

        490.805  TERMS OF DIRECTORS GENERALLY.         1.  The terms of the initial directors of a corporation expire at      the first shareholders' meeting at which directors are elected.         2.  The terms of all other directors expire at the next annual      shareholders' meeting following their election unless their terms are      staggered under section 490.806.         3.  A decrease in the number of directors does not shorten an      incumbent director's term.         4.  The term of a director elected to fill a vacancy expires at      the next shareholders' meeting at which directors are elected.         5.  Despite the expiration of a director's term, the director      continues to serve until a successor for that director is elected and      qualifies or until there is a decrease in the number of directors.      
         Section History: Recent Form
         89 Acts, ch 288, §76