§ 272a-8-050

272A.8 -050 Term of directors. (1) Unless the organic rules otherwise provide, and subject to subsections (3) and (4) of this section and KRS 272A.3 -020(5), the term of a director expires at the annual members meeting following the director's election or appointment. The term of a director may not exceed three (3) years. (2) Unless the organic rules otherwise provide, a director may be reelected. (3) Except as otherwise provided in subsection (4) of this section, a director continues to serve until a successor director is elected or appointe d and qualifies or the director is removed, resigns, is adjudged incompetent, or dies. (4) Unless the organic rules otherwise provide, a director does not serve the remainder of the director's term if the director ceases to qualify to be a director. Effect ive: July 12, 2012 History: Created 2012 Ky. Acts ch. 160, sec. 58, effective July 12, 2012.