Director term of office

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  • #372885
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    Does anyone’s bylaws indicate that it is possible for the term of office for a director be 1 year?
    Isn’t it rather standard to have a 2 (or more) term of office.

    #372993
    Dell
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    In my several years reading bylaws and state law from across the nation, I think a one year term is quite common. Staggered, multi-year terms are fairly common, too. The problem with staggered terms is that no one is keeping track of resignations, what director started when, and so on. Often many years pass and the current directors cannot figure out where things are with regard to the staggered terms. The latter happens a lot. Boards are left making up things. If this is the board’s only option, hopefully they are being reasonable and fair about it, so as to withstand a court challenge.

    #373000
    hoaprez3
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    As Dell said, it is very common to have 1-year terms for directors. Our bylaws stipulate 1-year terms.

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