13.1-858 - Staggered terms of directors. - Virginia Statutes

§ 13.1-858. Staggered terms of directors.

A. The articles of incorporation may provide for staggering the terms ofdirectors by dividing the total number of directors into groups, and theterms of office of the several groups need not be uniform.

B. If the articles of incorporation permit cumulative voting, any provisionestablishing staggered terms of directors shall provide that at least threedirectors shall be elected at each annual members' meeting.

(Code 1950, § 13.1-221; 1956, c. 428; 1985, c. 522; 1987, c. 140; 1989, c.419; 2007, c. 925.)