§ 805.
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/vt/805A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 805. Term of director
(a)Unless the organic rules otherwise provide and subject to subsections
(c)and
(d)of this section and subsection 303(c) of this title, the term of a director expires at the annual members’ meeting following the director’s election or appointment. The term of a director may not exceed three years.
(b)Unless the organic rules otherwise provide, a director may be reelected.
(c)Except as otherwise provided in subsection
(d)of this section, a director continues to serve until a successor director is elected or appointed and qualifies or the director is removed, resigns, is adjudged incompetent, or dies.
(d)Unless the organic rules otherwise provide, a director does not serve the remainder of the director’s term if the director ceases to qualify to be a director. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)