Current through L. 2024, c. 185.
Section 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. 4/20/2012.