The governing body shall elect the number of directors provided in the certificate of incorporation of the corporation for staggered terms of office. At the time of the election of the first board, the governing body shall divide the directors into three groups containing as nearly equal whole numbers as may be possible. The first term of the directors included in the first group shall be two years; the first term of the directors included in the second group shall be four years; the first term of the directors included in the third group shall be six years; and, thereafter, the terms of all directors shall be six years; provided, that if at the expiration of any term of office of any director a successor shall not have been elected, then the director whose term of office shall have expired shall continue to hold office until his successor shall be so elected.
Structure Code of Alabama
Article 4 - State Products Mart and Coliseum Authorities.
Section 41-10-80 - Short Title.
Section 41-10-81 - Definitions.
Section 41-10-82 - Purpose of Article; Construction of Article Generally.
Section 41-10-86 - Amendment of Certificate of Incorporation.
Section 41-10-90 - Officers of Corporation.
Section 41-10-91 - Powers of Corporation - Generally.
Section 41-10-92 - Powers of Corporation - Eminent Domain.
Section 41-10-95 - Execution and Delivery of Bonds and Interest Coupons.
Section 41-10-96 - Security for Payment of Principal and Interest on Bonds.
Section 41-10-97 - Disposition of Proceeds From Sale of Bonds Generally.
Section 41-10-99 - Refunding Bonds.
Section 41-10-100 - Investment of Surplus, etc., County Funds in Bonds of Corporation.
Section 41-10-102 - Remedies Upon Default on Bonds, Etc.
Section 41-10-103 - Leasing of Projects.
Section 41-10-104 - Conduct of Sporting Events, Exhibits, etc., in Projects.
Section 41-10-106 - Appropriations to Corporation by Municipality or County Authorized; Limitations.
Section 41-10-107 - Exemption From Taxation of Bonds, Income, Projects, etc., of Corporation.