Sec. 33-739. Terms of directors generally. - Connecticut Statutes

      Sec. 33-739. Terms of directors generally. (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 annual shareholders' meeting following their election unless their terms are staggered under section 33-740.

      (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.

      (P.A. 94-186, S. 87, 215.)

      History: P.A. 94-186 effective January 1, 1997.

      Annotations to former section 33-45:

      An officer annually elected usually holds office until his successor is chosen. 6 C. 428; 9 C. 536; 81 C. 473.

      Annotations to former section 33-46:

      Provision as to any director representing corporation as director of another. 55 C. 455. Increasing number by change in bylaws does not create "vacancy" which directors can fill. 75 C. 669. Requirements as to being stockholder means beneficial ownership. 87 C. 601.

      Annotations to former section 33-314:

      Cited. 150 C. 243.

      Cited. 14 CA 184.

      Subsec. (a):

      Cited. 171 C. 23, 30.

      Subsec. (e):

      See annotations to former section 33-45, above.

      Annotations to former section 33-317:

      Subsec. (b):

      Cited. 207 C. 639.

      Subsec. (c):

      Cited. 154 C. 12, 22.