2006 Kansas Code - 40-1511

      40-1511.   Directors; election; vacancy. In companies organized under the provisions of this article the number of directors shall not exceed fifteen, who shall be chosen from the members of the company. Of those chosen at the first election one-third shall be chosen for one year, one-third for two years, and one-third for three years, or until their successors are elected and qualified. At each annual meeting of the company a number equal to one-third of the whole number of directors shall be chosen for three years to fill the place of those whose term of office expires. A majority of the board of directors shall be a quorum for the transaction of business. Vacancies in the board shall be filled by the remaining members until the next annual meeting.

      History:   L. 1927, ch. 231, 40-1511; June 1.