RSA 564-F:10-1005 · Appointment and Term

564-F:10-1005 Appointment and Term. –

Copy link

(a)

The initial directors shall be appointed by:

Copy link

(1)

The organizers; or

Copy link

(2)

The founder.

Copy link

(b)

After the appointment of the initial directors, any additional or successor director shall be appointed:

Copy link

(1)

In accordance with the provisions of the governing documents governing the appointment of directors; or

Copy link

(2)

If the governing documents do not contain any provision for the appointment of directors, by:

Copy link

(A)

The directors; or

Copy link

(B)

An amendment of the governing documents.

Copy link

(c)

Unless the governing documents provide otherwise, the duration of a director's term shall be indefinite and shall terminate only upon:

Copy link

(1)

In the case of a director who is an individual, the director's incapacity, death, resignation, or removal; or

Copy link

(2)

In the case of a director that is an entity, the director's dissolution, resignation, or removal. Source. 2017, 257:47, eff. Oct. 1, 2017. 2018, 210:6, eff. June 8, 2018.

Copy link