Elected Directors Sample Clauses
The 'Elected Directors' clause defines the process and criteria for selecting individuals to serve as directors on a company's board through an election by shareholders or members. Typically, this clause outlines eligibility requirements, the nomination process, voting procedures, and the term length for elected directors. For example, it may specify that directors are chosen at annual meetings by a majority vote and serve for a fixed term, such as three years. The core function of this clause is to ensure a transparent and democratic method for appointing board members, thereby promoting accountability and representation within the organization's governance structure.
Elected Directors. Except for ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ and ▇▇▇▇ ▇▇▇▇, each of the Directors will be subject to election by Shareholders in accordance with the requirements of the Company’s articles of incorporation, the Company’s bylaws and the Washington Business Corporations Act. The Board may remove any Director from the Board for Cause.
Elected Directors. During the term of the Affiliation Agreement made by and between the Company and Nodak Mutual Insurance Company, effective on or about April 1, 2011, the policyholders of the Company may nominate and elect one-third (⅓) of the members of the Board of Directors (the “Elected Directors”). Prior to the effective date of the Affiliation Agreement described above, the Board of Directors of the Company shall designate the Elected Directors from the current Board of Directors who shall serve the remainder of their respective three (3) year terms remaining on April 1, 2011. Elected Directors shall each serve for a three (3) year term, and as nearly as may be, one-third (⅓) shall be elected annually. Any vacancy in the seat of one or more Elected Directors due to termination, resignation, death, disability or removal from office shall be filled by appointment of an interim Elected Director to serve until the next Annual Meeting of the policyholders, at which time an Elected Director will be elected by the policyholders to serve the remainder of the term of the vacant seat. Vacancy appointments of the Elected Directors shall be made by the remaining Elected Directors then serving on the Board of Directors. In the event all seats of the Elected Directors should become vacant at any one time, the Company will cause a Special Meeting of the policyholders to be called for the purpose of filling the vacancies.
Elected Directors. Four (4) of the Directors of the Corporation shall be elected by the existing Board (each, an “Elected Director” and collectively, the “Elected Directors”). Candidates to fill vacancies among the Elected Directors may be nominated by any Director or, if the Board has designated a committee to identify, consider and nominate persons to fill vacancies of the Board, by such committee. Each Director may cast one vote with respect to one position or vacancy.
Elected Directors. At the first GM held in terms of Articles 18.2.2 and 18.4, the Ordinary Members shall elect up to three Elected Directors, in respect of which the following shall apply: