| (1) |
Unless the organic rules otherwise provide, and subject to Subsections (3) and (4) and Subsection 16-16-303(3), the term of a director expires at the annual members meeting following the director’s election or appointment. The term of a director may not exceed three years. |
Terms Used In Utah Code 16-16-805
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
| (2) |
Unless the organic rules otherwise provide, a director may be reelected. |
| (3) |
Except as otherwise provided in Subsection (4), a director continues to serve until a successor director is elected or appointed and qualifies or the director is removed, resigns, is adjudged incompetent, or dies. |
| (4) |
Unless the organic rules otherwise provide, a director does not serve the remainder of the director’s term if the director ceases to qualify to be a director. |
Enacted by Chapter 363, 2008 General Session
