North Carolina § 55A-8-05 - Terms of directors generally.

§ 55A-8-05. Terms of directors generally.

The articles of incorporation or bylaws may specify the terms of directors. In the absence of a contrary provision in the articles of incorporation or bylaws, the term of each director shall be one year, and directors may serve successive terms. A decrease in the number of directors or term of office does not shorten an incumbent director's term. Except as provided in the articles of incorporation or bylaws: The term of a director filling a vacancy in the office of a director elected by members expires at the next election of directors by members; and The term of a director filling any other vacancy expires at the end of the unexpired term that such director is filling. Despite the expiration of a director's term, the director continues to serve until the director's successor is elected, designated, or appointed and qualifies, or until there is a decrease in the number of directors. History (1955, c. 1230; 1973, c. 192, ss. 1, 2; 1985 (Reg. Sess., 1986), c. 801, ss. 19-21; 1993, c. 398, s. 1; 1995, c. 509, s. 28.) Legal Periodicals. - For article, "Duties of Nonprofit Corporate Directors - Emphasizing Oversight Responsibilities," see 90 N.C. L. Rev. 1845 (2012).