Indiana § 15-12-1-23 Board of directors; vacancies

Indiana Statutes

§ 15-12-1-23 — Board of directors; vacancies

Indiana·Art. 12 AGRICULTURAL ASSISTANCE·Ch. 1 Agricultural Cooperatives

When a vacancy on the board of directors
occurs, other than by expiration of term of office, the remaining
members of the board may fill the vacancy by a majority vote of the
remaining members, unless the bylaws provide for the election of
directors by districts. If the bylaws provide for the election of directors
by districts, the board of directors may call a special meeting of the
members in that district to fill the vacancy or may fill the vacancy as in
the case of any other vacancy. A director who is elected or appointed
by the board of directors to fill a vacancy on the board shall serve until
the next annual or special meeting of the members.
[Pre-2008 Recodification Citation: 15-7-1-11(g).]

Free access — add to your briefcase to read the full text and ask questions with AI

When a vacancy on the board of directors
occurs, other than by expiration of term of office, the remaining
members of the board may fill the vacancy by a majority vote of the
remaining members, unless the bylaws provide for the election of
directors by districts. If the bylaws provide for the election of directors
by districts, the board of directors may call a special meeting of the
members in that district to fill the vacancy or may fill the vacancy as in
the case of any other vacancy. A director who is elected or appointed
by the board of directors to fill a vacancy on the board shall serve until
the next annual or special meeting of the members.
[Pre-2008 Recodification Citation: 15-7-1-11(g).]

Indiana § 15-12-1-23 (Board of directors; vacancies) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.