2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 17 - Officers, Directors and Shareholders
1724 - Term of office of directors.

     § 1724.  Term of office of directors.
        (a)  General rule.--Each director of a business corporation
     shall hold office until the expiration of the term for which he
     was selected and until his successor has been selected and
     qualified or until his earlier death, resignation or removal.
     Any director may resign at any time upon written notice to the
     corporation. The resignation shall be effective upon receipt
     thereof by the corporation or at such subsequent time as shall
     be specified in the notice of resignation. Each director shall
     be selected for the term of office provided in the bylaws, which
     shall be one year and until his successor has been selected and
     qualified or until his earlier death, resignation or removal,
     unless the board is classified as provided by subsection (b). A
     decrease in the number of directors shall not have the effect of
     shortening the term of any incumbent director.
        (b)  Classified board of directors.--Except as otherwise
     provided in the articles, if the directors are classified in
     respect of the time for which they shall severally hold office:
            (1)  Each class shall be as nearly equal in number as
        possible.
            (2)  The term of office of at least one class shall
        expire in each year.
            (3)  The members of a class shall not be elected for a
        longer period than four years.
     (Dec. 19, 1990, P.L.834, No.198, eff. imd.)

        1990 Amendment.  Act 198 amended subsec. (b).
        Cross References.  Section 1724 is referred to in sections
     1725, 1726 of this title.