| (1) |
An officer may resign at any time by giving written notice of the resignation to the corporation. |
Terms Used In Utah Code 16-10a-832
- Bylaws: includes amended bylaws and restated bylaws. See Utah Code 16-10a-102
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deliver: includes delivery by mail or another means of transmission authorized by Section 16-10a-103, except that delivery to the division means actual receipt by the division. See Utah Code 16-10a-102
- Division: means the Division of Corporations and Commercial Code. See Utah Code 16-10a-102
- Notice: is a s provided in Section 16-10a-103. See Utah Code 16-10a-102
| (2) |
A resignation of an officer is effective when the notice is received by the corporation, unless the notice specifies a later effective date. |
| (3) |
If a resignation is made effective at a later date, the board of directors may permit the officer to remain in office until the effective date and may fill the pending vacancy before the effective date if the board of directors provides that the successor does not take office until the effective date, or the board of directors may remove the officer at any time prior to the effective date and may fill the resulting vacancy. |
| (4) |
Unless otherwise provided in the bylaws, the board of directors may remove any officer at any time with or without cause. The bylaws or the board of directors may make provision for the removal of officers by other officers or by the shareholders. |
| (5) |
An officer who resigns or is removed or whose appointment has expired may deliver to the division for filing a statement to that effect pursuant to Section 16-10a-1608. |
Enacted by Chapter 277, 1992 General Session
