Minn. Stat. § 302A.225

Current through 2024, c. 127
Section 302A.225 - VACANCIES

Unless different rules for filling vacancies are provided for in the articles or bylaws:

(a)
(1) Vacancies on the board resulting from the death, resignation, removal, or disqualification of a director may be filled by the affirmative vote of a majority of the remaining directors, even though less than a quorum; and
(2) Vacancies on the board resulting from newly created directorships may be filled by the affirmative vote of a majority of the directors serving at the time of the increase; and
(b) Each director elected under this section to fill a vacancy holds office until a qualified successor is elected by the shareholders at the next regular or special meeting of the shareholders.

Minn. Stat. § 302A.225

1981 c 270 s 36