2006 Code of Virginia § 13.1-857 - Terms of directors generally

13.1-857. Terms of directors generally.

A. In the absence of a provision in the articles of incorporation fixing aterm of office, the term of office for a director shall be one year.

B. The directors constituting the initial board of directors shall holdoffice until the first annual election of directors or for such other periodas may be specified in the articles of incorporation. Thereafter, directorsshall be elected or appointed in the manner and for the terms provided in thearticles of incorporation.

C. A decrease in the number of directors does not shorten an incumbentdirector's term.

D. In the absence of a provision in the articles of incorporation, the termof a director elected by the board of directors to fill a vacancy expires atthe next members' meeting at which directors are elected.

E. Except in the case of ex-officio directors, despite the expiration of adirector's term, he continues to serve until his successor is elected andqualifies or until there is a decrease in the number of directors.

(Code 1950, 13.1-221; 1956, c. 428; 1985, c. 522; 1986, c. 529; 2004, c.303.)