Section 802 - Qualifications of directors1.General. The corporation's articles of incorporation or bylaws may prescribe qualifications for directors or for nominees for directors. [2015, c. 259, §12(NEW).]
2.Residency, shareholder. A director need not be a resident of this State or a shareholder of the corporation unless the articles of incorporation or bylaws so prescribe. [2015, c. 259, §12(NEW).]
3.Timing and application of nominee qualifications. A qualification for nomination for director prescribed before a person's nomination applies to such person at the time of nomination. A qualification for nomination for director prescribed after a person's nomination does not apply to such person with respect to such nomination. [2015, c. 259, §12(NEW).]
4.Timing and application of director qualifications. A qualification for director prescribed before the start of a director's term applies only at the time an individual becomes a director or may apply during a director's term. A qualification prescribed during a director's term does not apply to that director before the end of that term. [2015, c. 259, §12(NEW).]
Amended by 2015, c. 259,§ 12, eff. 10/15/2015.2001, c. 640, §A2 (NEW) . 2001, c. 640, §B7 (AFF) .