Skip to main content
CourtGPT logoCourtGPT
Directory
Law
For Attorneys
Blog
AppointmentsSign InSign Up
Section 4-27-810 - Vacancy on board — Arkansas Law | CourtGPT
  1. Home/
  2. Laws/
  3. Arkansas/
  4. Title 4 - Business and Commercial Law (§§ 4-1-101 — 4-119-105)/
  5. Subtitle 3 - Corporations and Associations/
  6. Chapter 27 - Business Corporation Act of 1987 Sub/
  7. Subchapter 8 - Directors - Officers - Meetings - Standards of Conduct - Indemnification/
  8. Part A - Board of Directors/
  9. Section 4-27-810 - Vacancy on board
Arkansas Legal Code
(a) Unless the articles of incorporation provide otherwise, if a vacancy occurs on a board of directors, including a vacancy resulting from an increase in the number of directors:(1) the shareholders may fill the vacancy;(2) the board of directors may fill the vacancy; or(3) if the directors remaining in office constitute fewer than a quorum of the board, they may fill the vacancy by the affirmative vote of a majority of all the directors remaining in office.(b) If the vacant office was held by a director elected by a voting group of shareholders, only the holders of shares of that voting group are entitled to vote to fill the vacancy if it is filled by the shareholders.(c) A vacancy that will occur at a specific later date (by reason of a resignation effective at a later date under § 4-27-807(b) or otherwise) may be filled before the vacancy occurs but the new director may not take office until the vacancy occurs.Acts 1987, No. 958, § 64-810.

Section 4-27-810 - Vacancy on board

Ask AI about this