§ 17-16-805 — Terms of directors generally

Wyoming § 17-16-805

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 16: WYOMING BUSINESS CORPORATION ACT
• Art. 8: DIRECTORS AND OFFICERS

Text

(a) The terms of the initial directors of a corporation
expire at the first shareholders' meeting at which directors are
elected.
(b) The terms of all other directors expire at the next,
or if their terms are staggered in accordance with W.S.
17-16-806, at the applicable second or third, annual
shareholders' meeting following their election except to the
extent:
(i) Provided in W.S. 17-16-1022 if a bylaw electing
to be governed by that section is in effect; or
(ii) A shorter term is specified in the articles of
incorporation in the event of a director nominee failing to
receive a specified vote for election.
(c) A decrease in the number of directors does not shorten
an incumbent director's term.
(d) The term of a director elected to fill a vacancy
expires at the next shareholders' meeting at which directors are
elected.
(e) Despite the expiration of a director's term, he
continues to serve until his successor is elected and qualifies
or until there is a decrease in the number of directors.