§ 7-6-24. Vacancies on board of directors.
(a) Any vacancy occurring on the board of directors and any directorship to be filled by reason of an increase in the number of directors may be filled by the affirmative vote of a majority of the remaining directors, unless the articles of incorporation or the bylaws provide that a vacancy or created directorship shall be filled in some other manner, in which case the provision shall control.
(b) A director elected or appointed to fill a vacancy shall be elected or appointed for the unexpired term of the director’s predecessor in office.
(c) Any directorship to be filled by reason of an increase in the number of directors may be filled by the board of directors for a term of office continuing only until the next election of directors.
History of Section.
P.L. 1984, ch. 380, § 1; P.L. 1984, ch. 444, § 1.