§ 14451
45 words·~1 min read·
/ca/financial-code/14451A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Directors may be elected for a term of three years or less. If directors are elected for terms in excess of one year their terms of office shall be staggered so that insofar as possible an equal number of such terms shall expire each year.