(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 annual shareholders' meeting following their election unless their terms are staggered under § 4-27-806.
(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) Despite the expiration of a director's term, he continues to serve until his successor is elected and qualifies or until there is a decrease in the number of directors.
Structure Arkansas Code
Title 4 - Business and Commercial Law
Subtitle 3 - Corporations and Associations
Chapter 27 - Business Corporation Act of 1987
Subchapter 8 - Directors — Officers — Meetings — Standards of Conduct — Indemnification
§ 4-27-801. Requirement for and duties of board of directors
§ 4-27-802. Qualifications of directors
§ 4-27-803. Number and election of directors
§ 4-27-804. Election of directors by certain classes of shareholders
§ 4-27-805. Terms of directors generally
§ 4-27-806. Staggered terms for directors
§ 4-27-807. Resignation of directors
§ 4-27-808. Removal of directors by shareholders