Maine Statutes
§ 13-C §806 — Staggered terms for directors
Maine § 13-C §806
This text of Maine § 13-C §806 (Staggered terms for 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 §806 (2026).
Text
The corporation's 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, as close as possible, 1/2 or 1/3, as the case may be, of the total. In that event, the terms of directors in the first group expire at the first annual shareholders' meeting after their election, the terms of the 2nd group expire at the 2nd 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 thereafter, directors must 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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Legislative History
PL 2001, c. 640, §A2 (NEW). PL 2001, c. 640, §B7 (AFF).
Nearby Sections
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§ 13 §1
Application§ 13 §101
Meetings by consent§ 13 §102
Meetings called by justice of peace§ 13 §103
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Definitions§ 13 §1032
Disposal of bodies§ 13 §1033
Vested rights§ 13 §1034
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Penalties§ 13 §1036
Recovery of fines or penalties§ 13 §104
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Voting pledged stock§ 13 §107
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Bluebook (online)
Maine § 13-C §806, Counsel Stack Legal Research, https://law.counselstack.com/statute/me/13-C%20%C2%A7806.