HRS §414-195
How long directors serve and when their terms end
This section explains when directors' terms end. Initial directors serve until the first shareholder meeting where directors are elected. Other directors serve until the next annual meeting, unless terms are staggered. A director stays in office after their term ends until a replacement is chosen or the board shrinks.
The statute, as written — Terms of directors generally
(a) The terms of the initial directors of a corporation expire at the first shareholders' meeting at which directors are elected. (b) The terms of all other directors expire at the next annual shareholders' meeting following their election unless their terms are staggered under section 414-196. (c) A decrease in the number of directors does not shorten an incumbent director's term. (d) The term of a director elected to fill a vacancy expires at the next shareholders' meeting at which directors are elected. (e) Despite the expiration of a director's term, the director continues to serve until the director's successor is elected and qualifies or until there is a decrease in the number of directors.
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