[§414-196]  Staggered terms for directors. If there are nine or more directors, the articles of incorporation may providefor staggering their terms by dividing the total number of directors into twoor three groups, with each group containing one-half or one-third of the total,as near as may be.  In that event, the terms of directors in the first groupexpire at the first annual shareholders' meeting after their election, theterms of the second group expire at the second annual shareholders' meeting aftertheir election, and the terms of the third group, if any, expire at the thirdannual shareholders' meeting after their election.  At each annualshareholders' meeting held thereafter, directors shall be chosen for a term oftwo years or three years, as the case may be, to succeed those whose termsexpire. [L 2000, c 244, pt of §1]