355.331. Terms of directors, generally.
Terms of directors, generally.
355.331. 1. The articles or bylaws shall specify the terms ofdirectors. Except for designated or appointed directors, the terms ofdirectors may not exceed six years. In the absence of any term specifiedin the articles or bylaws, the term of each director shall be one year.Directors may be elected for successive terms.
2. A decrease in the number of directors or term of office does notshorten an incumbent director's term.
3. Except as provided in the articles or bylaws:
(1) The term of a director filling a vacancy in the office of adirector elected by members expires at the next election of directors bymembers; and
(2) The term of a director filling any other vacancy expires at theend of the unexpired term which such director is filling.
4. Despite the expiration of a director's term, the directorcontinues to serve until the director's successor is elected, designated orappointed and qualifies, or until there is a decrease in the number ofdirectors.
(L. 1994 H.B. 1095, A.L. 1996 S.B. 768, A.L. 2003 S.B. 463)