Colorado § 7-108-105 Terms of directors generally

Colorado Statutes

§ 7-108-105 — Terms of directors generally

Colorado·Title 07 Corporations·Art. Directors and Officers

(1)Except as provided in section 7-108-106, the terms of the initial directors of a corporation expire at the first shareholders' meeting at which directors are elected.

(2)Except as provided in section 7-108-106, the terms of all other directors expire at the next annual shareholders' meeting following their election.

(3)A decrease in the number of directors does not shorten an incumbent director's term.

(4)The term of a director elected to fill a vacancy pursuant to section 7-108-110 (1)(b) or 7-108-110 (1)(c) expires at the next annual shareholders' meeting at which directors are elected. The term of a director elected to fill a vacancy pursuant to section 7-108-110 (1)(a) shall be the unexpired term of the director's predecessor in office; except that, if the director's p

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(1) Except as provided in section
7-108-106, the terms of the initial directors of a corporation expire at the first
shareholders' meeting at which directors are elected.

(2) Except as provided in section 7-108-106, the terms of all other directors
expire at the next annual shareholders' meeting following their election.

(3) A decrease in the number of directors does not shorten an incumbent
director's term.

(4) The term of a director elected to fill a vacancy pursuant to section 7-108-110 (1)(b) or 7-108-110 (1)(c) expires at the next annual shareholders' meeting at
which directors are elected. The term of a director elected to fill a vacancy
pursuant to section 7-108-110 (1)(a) shall be the unexpired term of the director's
predecessor in office; except that, if the director's predecessor had been elected to
fill a vacancy pursuant to section 7-108-110 (1)(b) or 7-108-110 (1)(c), the term of a
director elected pursuant to section 7-108-110 (1)(a) shall be the unexpired term of
the last predecessor elected by the shareholders.

(5) Despite the expiration of the director's term, a director continues to serve
until the director's successor is elected and qualifies.

(6) (Deleted by amendment, L. 2004, p. 1497, � 252, effective July 1, 2004.)

Colorado § 7-108-105 (Terms of directors generally) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 93: Entire article added, p. 779, � 1, effective July 1, 1994. L. 2000: (6) amended, p. 978, � 55, effective July 1. L. 2002: (6) amended, p. 1848, � 110, effective July 1; (6) amended, p. 1712, � 110, effective October 1. L. 2004: (4), (5), and (6) amended, p. 1497, � 252, effective July 1.