[§414D-135]  Terms of directors generally. 
(a)  The articles or bylaws shall specify the terms of directors.  Except for
designated or appointed directors, the terms of directors may not exceed five
years.  In the absence of any term specified in the articles or bylaws, the
term of each director shall be one year.  Directors may be elected for
successive terms.



(b)  A decrease in the number of directors or
term of office does not shorten an incumbent director's term.



(c)  Except as provided in the articles or
bylaws:



(1)  The term of a director filling a vacancy in the
office of a director elected by members expires at the next election of
directors by members; and



(2)  The term of a director filling any other vacancy
expires at the end of the unexpired term that the director is filling.



(d)  Despite the expiration of a director's
term, the director continues to serve until the director's successor is
elected, designated, or appointed and qualifies, or until there is a decrease
in the number of directors. [L 2001, c 105, pt of §1]