New Hampshire Revised Statutes 293-A:8.05 – Terms of Directors Generally
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(a) The terms of the initial directors of a corporation expire at the first shareholders’ meeting at which directors are elected.
(b) The terms of all other directors expire at the next, or if their terms are staggered in accordance with N.H. Rev. Stat. § 293-A:8.06, at the applicable second or third, annual shareholders’ meeting following their election, except to the extent (i) provided in N.H. Rev. Stat. § 293-A:10.22 if a bylaw electing to be governed by that section is in effect; or (ii) a shorter term is specified in the articles of incorporation in the event of a director nominee failing to receive a specified vote for election.
(c) A decrease in the number of directors does not shorten an incumbent director’s term.
(d) The term of a director elected to fill a vacancy expires at the next shareholders’ meeting at which directors are elected.
(e) Except to the extent otherwise provided in the articles of incorporation or under N.H. Rev. Stat. § 293-A:10.22, if a bylaw electing to be governed by that section is in effect, despite the expiration of a director’s term, the director continues to serve until the director’s successor is elected and qualifies or there is a decrease in the number of directors.
(b) The terms of all other directors expire at the next, or if their terms are staggered in accordance with N.H. Rev. Stat. § 293-A:8.06, at the applicable second or third, annual shareholders’ meeting following their election, except to the extent (i) provided in N.H. Rev. Stat. § 293-A:10.22 if a bylaw electing to be governed by that section is in effect; or (ii) a shorter term is specified in the articles of incorporation in the event of a director nominee failing to receive a specified vote for election.
Terms Used In New Hampshire Revised Statutes 293-A:8.05
- bylaw: when used in reference to legislative action taken by a city, town, county or village district shall have the same meaning as an ordinance and shall be subject to the same procedures for enactment. See New Hampshire Revised Statutes 21:45
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
(c) A decrease in the number of directors does not shorten an incumbent director’s term.
(d) The term of a director elected to fill a vacancy expires at the next shareholders’ meeting at which directors are elected.
(e) Except to the extent otherwise provided in the articles of incorporation or under N.H. Rev. Stat. § 293-A:10.22, if a bylaw electing to be governed by that section is in effect, despite the expiration of a director’s term, the director continues to serve until the director’s successor is elected and qualifies or there is a decrease in the number of directors.