2009 Nebraska Code
Chapter 21 CORPORATIONS AND OTHER COMPANIES
21-2082 Terms of directors.
21-2082.
Terms of directors.(1) The terms of the initial directors of a corporation shall expire at the first shareholders' meeting at which directors are elected.
(2) The terms of all other directors shall expire at the next annual shareholders' meeting following their election unless their terms are staggered under section 21-2083.
(3) A decrease in the number of directors shall not shorten an incumbent director's term.
(4) The term of a director elected to fill a vacancy shall expire at the next shareholders' meeting at which directors are elected.
(5) Despite the expiration of a director's term, he or she shall continue to serve until his or her successor is elected and qualifies or until there is a decrease in the number of directors.
Source-
Laws 1995, LB 109, ยง 82.
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