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Kentucky Revised Statutes Title XXIII. Private Corporations and Associations § 272A.8-090.Vacancy on board

Current as of January 01, 2024 | Updated by FindLaw Staff

(1) Unless the organic rules otherwise provide, a vacancy on the board of directors shall be filled:

(a) Within a reasonable time by majority vote of the remaining directors until the next annual members meeting or a special meeting of members called to fill the vacancy; and

(b) For the unexpired term by members at the next annual members meeting or a special meeting of members called to fill the vacancy.

(2) Unless the organic rules otherwise provide, if a vacating director was elected or appointed by a class of members or a district:

(a) The new director shall be of that class or district; and

(b) The selection of the director for the unexpired term shall be conducted in the same manner as would the selection for that position without a vacancy.

(3) If a member appointed a vacating director, the organic rules may provide for that member to appoint a director to fill the vacancy.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXIII. Private Corporations and Associations § 272A.8-090.Vacancy on board - last updated January 01, 2024 | https://codes.findlaw.com/ky/title-xxiii-private-corporations-and-associations/ky-rev-st-sect-272a-8-090/

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