§ 35-2-420

35-2-420. Resignation of directors. (1) (a) A director may resign at any time by delivering written notice to the board of directors, its presiding officer, the president, or the secretary. (b) A director may rescind a resignation within 5 business days of resigning unless prohibited by the bylaws of the corporation or the articles of incorporation. The director's recission of a resignation must be in writing and delivered to the members of the board of directors. (2) A resignation is effective when the notice is effective unless the notice specifies a later effective date or the director rescinds the resignation under subsection (1)(b). If a resignation is made effective at a later date, the board may fill the pending vacancy before the effective date if the board provides that the successor does not take office until the effective date. History: En. Sec. 79, Ch. 411, L. 1991; amd. Sec. 1, Ch. 339, L. 2023.