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North Dakota Century Code Title 10. Corporations § 10-33-54. Resignation, removal, and vacancies for officers

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

1. An officer may resign by giving written notice to the corporation. The resignation is effective without acceptance when the notice is given to the corporation, unless a later effective date is specified in the notice.

2. With respect to removal:

a. Except as otherwise provided in the articles or bylaws, an officer may be removed at any time, with or without cause, by a resolution adopted by the board or by the members with voting rights, whichever elected or appointed the officer.

b. An officer appointed by the president may also be removed at any time, with or without cause, by the president.

c. To the extent authorized in the articles, the bylaws, or a resolution approved by the affirmative vote of a majority of the directors present, the president of a corporation may remove an officer elected or appointed by the board, other than the treasurer.

d. The articles or the bylaws may provide other manners of removing an officer.

e. A removal as described in this subsection is without prejudice to any contractual rights of the officer.

3. A vacancy in an office because of death, resignation, removal, disqualification, or other cause may, or in the case of a vacancy in the office of treasurer, if any, or president, must be filled for the unexpired part of the term in the manner provided in the articles or bylaws as determined by the board, or under section 10-33-52.

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Cite this article: FindLaw.com - North Dakota Century Code Title 10. Corporations § 10-33-54. Resignation, removal, and vacancies for officers - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-10-corporations/nd-cent-code-sect-10-33-54/

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