District of Columbia § 29-306.06 Staggered terms for directors.

District of Columbia Statutes

§ 29-306.06 — Staggered terms for directors.

District of Columbia § 29-306.06

JurisdictionDistrict of Columbia

Title 29Business Organizations. [Enacted title]

Ch. 3Business Corporations.

Subch. VIDirectors and Officers.

Part ABoard of Directors.

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Bluebook

D.C. Code § 29-306.06 (2026).

Text

The articles of incorporation may provide for staggering the terms of directors by dividing the total number of directors into 2 or 3 groups, with each group containing 1  /2   or 1  /3   of the total, as near as may be practicable. In that event, the terms of directors in the 1st group expire at the 1st annual shareholders’ meeting after their election, the terms of the 2nd group expire at the 1st annual shareholders’ meeting after their election, and the terms of the 3rd group, if any, expire at the 3rd annual shareholders’ meeting after their election. At each annual shareholders’ meeting held thereafter, directors shall be chosen for a term of 2 years or 3 years, as the case may be, to succeed those whose terms expire.

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The articles of incorporation may provide for staggering the terms of directors by dividing the total number of directors into 2 or 3 groups, with each group containing 1 /2 or 1 /3 of the total, as near as may be practicable. In that event, the terms of directors in the 1st group expire at the 1st annual shareholders’ meeting after their election, the terms of the 2nd group expire at the 1st annual shareholders’ meeting after their election, and the terms of the 3rd group, if any, expire at the 3rd annual shareholders’ meeting after their election. At each annual shareholders’ meeting held thereafter, directors shall be chosen for a term of 2 years or 3 years, as the case may be, to succeed those whose terms expire.