Board of directors.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (d) (e) (f) (2) If less than the entire board is to be removed, no one of the directors may be removed if the votes cast against the removal would be sufficient to elect a director if then cumulatively voted at an election of the class of directors of which such director is a part. (3) Whenever the holders of the shares of any class are entitled to elect one or more directors by the provisions of the charter or supplemental sections thereto, the provisions of this section shall apply, in respect to the removal of a director or directors so elected, to the vote of the holders of the outstanding shares of that class and not to the vote of the outstanding shares as a whole. (g) (h) (i) (j) (k)

official document · source cfr-2024 · id 12:§ 239.27