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 Oklahoma Statutes (Last Updated: September 18, 2014)
 Title 18. CORPORATIONS

  § 18-441-809. Vacancy on board.  

Latest version.

  • VACANCY ON BOARD.

    (a)  Unless the organic rules otherwise provide, a vacancy on the board of directors must be filled:

    (1)  Within a reasonable time by majority vote of the remaining directors until the next annual members meeting or a special meeting of members called to fill the vacancy; and

    (2)  For the unexpired term by members at the next annual members meeting or a special meeting of members called to fill the vacancy.

    (b)  Unless the organic rules otherwise provide, if a vacating director was elected or appointed by a class of members or a district:

    (1)  The new director must be of that class or district; and

    (2)  The selection of the director for the unexpired term must be conducted in the same manner as would the selection for that position without a vacancy.

    (c)  If a member appointed a vacating director, the organic rules may provide for that member to appoint a director to fill the vacancy.

Added by Laws 2009, c. 68, § 74, eff. Jan. 1, 2010.