43-16-120 - Vacancies in board of directors Filling. - Tennessee Statutes

43-16-120. Vacancies in board of directors Filling.

When a vacancy on the board of directors occurs other than by expiration of term, the remaining members of the board, by a majority vote, shall fill the vacancy, unless the bylaws provide for an election of directors by district stockholders. In that case, the board of directors shall immediately call a special meeting of the members or stockholders in that district to fill the vacancy.

[Acts 1923, ch. 100, § 12; Shan. Supp., § 2534a44; Code 1932, § 3802; T.C.A. (orig. ed.), § 43-1820.]