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180.0805

180.0805 Terms of directors generally.

180.0805(1)

(1) The terms of the directors of a corporation, including the initial directors, expire at the next annual shareholders' meeting unless their terms are staggered under s. 180.0806.

180.0805(2)

(2) A decrease in the number of directors may not shorten an incumbent director's term.

180.0805(3)

(3) Despite the expiration of a director's term, the director shall continue to serve, subject to ss. 180.0807, 180.0808 and 180.0809, until his or her successor is elected and, if necessary, qualifies or until there is a decrease in the number of directors.

180.0805 - ANNOT.

History: 1989 a. 303.