Idaho Code § 30-29-806

Current through Chapter 330 of the 2024 Regular Legislative Session
Section 30-29-806 - STAGGERED TERMS FOR DIRECTORS

The articles of incorporation may provide for staggering the terms of directors by dividing the total number of directors into two (2) or three (3) groups, with each group containing one-half (1/2) or one-third (1/3) of the total, as near as may be practicable. In that event, the terms of directors in the first group expire at the first annual shareholders' meeting after their election, the terms of the second group expire at the second annual shareholders' meeting after their election, and 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 shall be elected for a term of two (2) years or three (3) years, as the case may be, to succeed those whose terms expire.

Idaho Code § 30-29-806

[30-29-806, added 2015, ch. 243, sec. 63, p. 928; am. 2019, ch. 90, sec. 78, p. 272.]
Amended by 2019 Session Laws, ch. 90,sec. 78, eff. 7/1/2019.
Added by 2015 Session Laws, ch. 243,sec. 63, eff. 7/1/2015.