§ 55-8-43. Resignation and removal of officers.

205 words·~1 min read·/nc/chapter-55/55-8-43

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)An officer may resign at any time by communicating his resignation to the corporation. A resignation is effective when it is communicated unless it specifies in writing a later effective time. If a resignation is made effective at a later time and the corporation accepts the future effective time, its board of directors or the appointing officer may fill the pending vacancy before the effective time if the board of directors or the appointing officer provides that the successor does not take office until the effective time.

(b)An officer may be removed at any time with or without cause by

(i)the board of directors,

(ii)the appointing officer, unless the bylaws or the board of directors provide otherwise, or

(iii)any other officer if authorized by the bylaws or the board of directors.

(c)In this section, "appointing officer" means the officer, including any successor to that officer, who appointed the officer resigning or being removed. (1901, c. 2, ss. 15, 16, 17; Rev., ss. 1149, 1150, 1151; C.S., s. 1145; G.S., s. 55-49; 1955, c. 1371, s. 1; 1959, c. 1316, s. 9; 1973, c. 1217; 1989, c. 265, s. 1; 2005-268, s. 12.)