This board of directors shall manager the affairs of the association for such term of office as the bylaws may prescribe and until their successors shall have been elected and shall have qualified and entered upon the discharge of their duties. But a majority of the stockholders at a meeting legally called according to the bylaws of the association may remove any director or officer for cause and fill the vacancy and thereupon the director or officer so removed shall cease to be a director or officer of the association.
HISTORY: 1962 Code Section 3-710; 1962 (52) 2222.
Structure South Carolina Code of Laws
Chapter 39 - Farmers' Associations
Section 46-39-10. Definitions.
Section 46-39-20. Cooperative association of farmers may be formed.
Section 46-39-30. Filing and contents of petition for incorporation.
Section 46-39-40. Commission of board of incorporators; opening books of subscriptions.
Section 46-39-50. Subscriptions to capital stock of association; how payable.
Section 46-39-70. Minimum limitation on amount of capital stock; par value.
Section 46-39-80. Limitation on number of shares owned; one vote per share.
Section 46-39-90. Meeting of subscribers; election of directors; votes of subscribers.
Section 46-39-100. Duties of directors; terms; removal; vacancies.
Section 46-39-110. Officers; election; bond.
Section 46-39-120. Call for payment of subscriptions.
Section 46-39-140. Powers of association.
Section 46-39-150. Dissolution of association.
Section 46-39-160. Certified copy of charter as evidence of incorporation.
Section 46-39-170. Secretary of State to file and index charters and amendments.