§ 703 — Election and term of directors

§ 703. Election and term of directors.\n (a) At each annual meeting of shareholders, directors shall be elected\nto hold office until the next annual meeting except as authorized by\nsection 704 (Classification of directors). The certificate of\nincorporation may provide for the election of one or more directors by\nthe holders of the shares of any class or series, or by the holders of\nbonds entitled to vote in the election of directors pursuant to section\n518 (Corporate bonds), voting as a class.\n (b) Each director shall hold office until the expiration of the term\nfor which he is elected, and until his successor has been elected and\nqualified.\n