Maine § 13-C §803 Number and election of directors

Maine Statutes

§ 13-C §803 — Number and election of directors

Maine § 13-C §803

Title 13-CMAINE BUSINESS CORPORATION ACT

Ch. 8DIRECTORS AND OFFICERS

This text of Maine § 13-C §803 (Number and election of directors) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 13-C, § 13-C §803 (2026).

Text

1.Number of directors. A corporation's board of directors must consist of one or more individuals. The corporation's articles of incorporation or bylaws may fix the number of directors or otherwise regulate the size of the board.

2.Increase or decrease in number. Unless the corporation's articles of incorporation or bylaws provide otherwise, the number of directors may be increased or decreased from time to time by resolution of the shareholders or the directors. A decrease in the number of directors may not have the effect of shortening the term of any incumbent director.

3.Election. Directors are elected at the first annual shareholders' meeting and at each annual meeting thereafter unless their terms are staggered under section 806.

4.Corporate board gender parity. A publicly held d

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1.
Number of directors.
A corporation's board of directors must consist of one or more individuals. The corporation's articles of incorporation or bylaws may fix the number of directors or otherwise regulate the size of the board.
2.
Increase or decrease in number.
Unless the corporation's articles of incorporation or bylaws provide otherwise, the number of directors may be increased or decreased from time to time by resolution of the shareholders or the directors. A decrease in the number of directors may not have the effect of shortening the term of any incumbent director.
3.
Election.
Directors are elected at the first annual shareholders' meeting and at each annual meeting thereafter unless their terms are staggered under section 806.
4.
Corporate board gender parity.
A publicly held domestic corporation subject to this Act shall comply with the board of directors gender parity requirements of this subsection.