16-10a-807. Resignation of directors.
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16-10a-807. Resignation of directors.
(1)A director may resign at any time by giving a written notice of resignation to the board of directors, the board's chair, or the corporation's secretary.
(a)A resignation of a director is effective when the notice is received by the corporation unless the notice specifies a later effective date or an effective date determined by the happening of an event.
(b)A notice of resignation that is conditioned upon failing to receive a specified vote for election as a director may provide that it is irrevocable.
(3)A director who resigns may deliver to the division for filing a statement of the director's resignation pursuant to Section 16-10a-1608 .
Amended by Chapter 85 , 2007 General Session