REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT.
(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 Section 10A-2-8.06.
(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 or she continues to serve until his or her successor is elected and qualified or until there is a decrease in the number of directors.
Structure Code of Alabama
Title 10A - Alabama Business and Nonprofit Entities Code.
Chapter 2 - Business Corporations.
Article 8 - Directors and Officers.
Division A - Board of Directors.
Section 10A-2-8.01 - Requirements for and Duties of Board of Directors.
Section 10A-2-8.02 - Qualifications of Directors.
Section 10A-2-8.03 - Number and Election of Directors.
Section 10A-2-8.04 - Election of Directors by Certain Classes of Shareholders.
Section 10A-2-8.05 - Terms of Directors Generally.
Section 10A-2-8.06 - Staggered Terms for Directors.
Section 10A-2-8.07 - Resignation of Directors.
Section 10A-2-8.08 - Removal of Directors by Shareholders.
Section 10A-2-8.09 - Removal of Directors by Judicial Proceeding.