35-2-420. Resignation of directors.
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/mt/title-35/chapter-2/part-4/35-2-420A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
35-2-420 . Resignation of directors.
(a)A director may resign at any time by delivering written notice to the board of directors, its presiding officer, the president, or the secretary.
(b)A director may rescind a resignation within 5 business days of resigning unless prohibited by the bylaws of the corporation or the articles of incorporation. The director's recission of a resignation must be in writing and delivered to the members of the board of directors.
(2)A resignation is effective when the notice is effective unless the notice specifies a later effective date or the director rescinds the resignation under subsection (1)(b). If a resignation is made effective at a later date, the board may fill the pending vacancy before the effective date if the board provides that the successor does not take office until the effective date.