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Current as of January 01, 2020 | Updated by FindLaw Staff
1. Unless different rules for filling vacancies are provided for in the articles or bylaws:
a. Vacancies on the board resulting from the death, resignation, removal, or disqualification of a director may be filled by the affirmative vote of a majority of the remaining directors, even though the remaining directors constitute less than a quorum; and
b. Vacancies on the board resulting from newly created directorships may be filled by the affirmative vote of a majority of the directors serving at the time of the increase.
2. Each director elected under this section to fill a vacancy holds office until a qualified successor is elected by the shareholders at the next regular or special meeting of the shareholders.
3. A vacancy that will occur at a specific later date may be filled before the vacancy occurs but the new director may not take office until the vacancy occurs.
Cite this article: FindLaw.com - North Dakota Century Code Title 10. Corporations § 10-19.1-42. Board vacancies - last updated January 01, 2020 | https://codes.findlaw.com/nd/title-10-corporations/nd-cent-code-sect-10-19-1-42/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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