Section 293-A:8.06 Staggered Terms for Directors. - New Hampshire Statutes

If there are 9 or more directors, the articles of incorporation may provide for staggering their terms by dividing the total number of directors into 2 or 3 groups, with each group containing 1/2 or 1/3 of the total, as near as may be. In that event, the terms of directors in the first group expire at the first annual shareholders' meeting after their election, the terms of the second group expire at the second annual shareholders' meeting after their election, and the terms of the third group, if any, expire at the third annual shareholders' meeting after their election. At each annual shareholders' meeting held thereafter, directors shall be chosen for a term of 2 years or 3 years, as the case may be, to succeed those whose terms expire.

Source. 1992, 255:1, eff. Jan. 1, 1993.