§ 14-2-803 — Number and election of directors

Georgia § 14-2-803

• Jurisdiction: Georgia
• Title: 14

Text

(a) A board of directors must consist of one or more individuals, with the number specified in or fixed in accordance with the articles of incorporation or bylaws. (b) The number of directors may be increased or decreased from time to time by amendment to, or in the manner provided in, the articles of incorporation or the bylaws. (c) In the case of a corporation having cumulative voting: (1) Any amendment of the bylaws decreasing the number or minimum number of directors must be adopted by the shareholders; and (2) No amendment of either the articles of incorporation or the bylaws decreasing the number or minimum number of directors shall be effective when the number of shares voting against the proposal for decrease would be sufficient to elect a director if voted cumulatively at an annual election. (d) After initial election or appointment pursuant to Code Section 14-2-205 , directors are elected at each annual shareholders' meeting unless their terms are staggered under Code Section 14-2-806 .

Legislative History

Amended by 2016 Ga. Laws 364,§ 1-2, eff. 7/1/2016.