S.C. Code § 33-8-106

Current through 2024 Act No. 209.
Section 33-8-106 - Staggered terms for directors

If there are six or more directors, the articles of incorporation may provide for staggering their terms by dividing the total number of directors into two or three groups, with each group containing one-half or one-third of the total, as near as may be. The terms of directors in the first group expire at the first annual shareholders' meeting after their election; the terms of the third group, if any, expire at the third annual shareholders' meeting after their election. At each annual shareholders' meeting held thereafter, directors are chosen for a term of two years or three years, as the case may be, to succeed those directors whose terms expire.

S.C. Code § 33-8-106

1994 Act No. 461, Section 6; 1988 Act No. 444, Section 2; Repealed, 1988 Act No. 444, Section 2]; 1981 Act No. 146, Section 2; 1963 (53) 327; 1962 (52) 1996; Derived from 1976 Code Section 33-13-50 [1962 Code Section 12-18.5.