§ 805. Term of director
(a) Unless the organic rules otherwise provide and subject to subsections (c) and (d) of this section and subsection 303(c) of this title, the term of a director expires at the annual members’ meeting following the director’s election or appointment. The term of a director may not exceed three years.
(b) Unless the organic rules otherwise provide, a director may be reelected.
(c) Except as otherwise provided in subsection (d) of this section, a director continues to serve until a successor director is elected or appointed and qualifies or the director is removed, resigns, is adjudged incompetent, or dies.
(d) Unless the organic rules otherwise provide, a director does not serve the remainder of the director’s term if the director ceases to qualify to be a director. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
Structure Vermont Statutes
Title 11C - Mutual Benefit Enterprises
Chapter 8 - Directors and Officers
§ 802. No liability as director for mutual benefit enterprise’s obligations
§ 803. Qualifications of directors
§ 804. Election of directors and composition of board
§ 806. Resignation of director
§ 808. Suspension of director by board
§ 810. Remuneration of directors
§ 814. Waiver of notice of meeting
§ 818. Standards of conduct and liability
§ 820. Other considerations of directors
§ 821. Right of director or committee member to information