Nevada § 78.330 - Directors: Election; terms; classification; voting power

§ 78.330. Directors: Election; terms; classification; voting power

1. Unless elected pursuant to NRS 78.320 , or unless the articles of incorporation or the bylaws require more than a plurality

of the votes cast, directors of every corporation must be elected at the annual meeting

of the stockholders by a plurality of the votes cast at the election. Unless otherwise provided in this chapter or in the bylaws, the board of directors

has the authority to set the date, time and place for the annual meeting of the stockholders. If for any reason directors are not elected pursuant to NRS 78.320 or at the annual meeting of the stockholders, they may be elected at any special

meeting of the stockholders which is called and held for that purpose. Unless otherwise provided in the articles of incorporation or bylaws, each director

holds office after the expiration of his or her term until a successor is elected

and qualified, or until the director resigns or is removed. 2. The articles of incorporation or the bylaws may provide for the classification

of directors as to the duration of their respective terms of office or as to their

election by one or more authorized classes or series of shares, but at least one-fourth

in number of the directors of every corporation must be elected annually. If an amendment reclassifying the directors would otherwise increase the term of

a director, unless the amendment is to the articles of incorporation and otherwise

provides, the term of each incumbent director on the effective date of the amendment

terminates on the date it would have terminated had there been no reclassification. 3. The articles of incorporation may provide that the voting power of individual directors

or classes of directors may be greater than or less than that of any other individual

directors or classes of directors, and the different voting powers may be stated in

the articles of incorporation or may be dependent upon any fact or event that may

be ascertained outside the articles of incorporation if the manner in which the fact

or event may operate on those voting powers is stated in the articles of incorporation. If the articles of incorporation provide that any directors may have voting power

greater than or less than other directors, every reference in this chapter to a majority

or other proportion of directors shall be deemed to refer to a majority or other proportion

of the voting power of all of the directors or classes of directors, as may be required

by the articles of incorporation.