2023 Montana Code Annotated
Title 35. Corporations, Partnerships, and Associations
Chapter 2. Nonprofit Corporations
Part 4. Directors and Officers -- Indemnification
35-2-420. Resignation of directors
35-2-420. Resignation of directors. (1) (a) A director may resign at any time by delivering written notice to the board of directors, its presiding officer, the president, or the secretary.
(b) A director may rescind a resignation within 5 business days of resigning unless prohibited by the bylaws of the corporation or the articles of incorporation. The director's recission of a resignation must be in writing and delivered to the members of the board of directors.
(2) A resignation is effective when the notice is effective unless the notice specifies a later effective date or the director rescinds the resignation under subsection (1)(b). If a resignation is made effective at a later date, the board may fill the pending vacancy before the effective date if the board provides that the successor does not take office until the effective date.
History: En. Sec. 79, Ch. 411, L. 1991; amd. Sec. 1, Ch. 339, L. 2023.
