Nebraska § 21-289 Staggered terms for directors

Nebraska Statutes

§ 21-289 — Staggered terms for directors

Nebraska § 21-289

Ch. 21Corporations and Other Companies

This text of Nebraska § 21-289 (Staggered terms for directors) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 21-289 (2026).

Text

(MBCA 8.06) The articles
of incorporation may provide for staggering the terms of directors by dividing
the total number of directors into two or three groups, with each group containing
one-half or one-third of the total, as near as may be practicable. 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 second group
expire at the second annual shareholders' meeting after their election, and
the terms of the third group, if any, expire at the third annual shareholders'
meeting after their election. At each annual shareholders' meeting held thereafter,
directors shall be chosen for a term of two years or three years, as the case
may be, to succeed those whose terms expire.

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(MBCA 8.06) The articles
of incorporation may provide for staggering the terms of directors by dividing
the total number of directors into two or three groups, with each group containing
one-half or one-third of the total, as near as may be practicable. 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 second group
expire at the second annual shareholders' meeting after their election, and
the terms of the third group, if any, expire at the third annual shareholders'
meeting after their election. At each annual shareholders' meeting held thereafter,
directors shall be chosen for a term of two years or three years, as the case
may be, to succeed those whose terms expire.