Current through P.A. Acts 2023-66
Section 2530 - Qualifications of directors(a) General rule.--The bylaws of a registered corporation may not impose a qualification of directors that is based on a past, present or future action by a nominee or director in the discharge of the director's powers or duties as a governor of an association.(b)Certain permitted qualifications.--This section does not prohibit qualifications relating to: (1) not having entered a guilty plea, or not being or having been subject to a criminal conviction, civil judgment or regulatory sanction or penalty; or(2) not having been removed as a governor of an association by judicial action or for cause.(c)Relationship to nomination procedures.--This section applies to a qualification included in a nomination procedure adopted under section 1758(e) (relating to voting rights of shareholders), but does not prohibit the corporation from excluding a nomination that does not comply with such a procedure.Added by P.L. TBD 2022 No. 122, § 61, eff. 1/2/2023.