KRS 271B.8-060: Staggered terms for directors.

The articles of incorporation may provide for staggering the terms of directors by dividing

the total number of directors in two (2) or three (3) groups, with each group containing

one-half (1/2) or one-third (1/3) of the total, as near as may be. In that event, the terms of

directors in the first group shall expire at the first annual shareholders' meeting after their

election, the terms of the second group shall expire at the second annual shareholders'

meeting after their election, and the terms of the t hird group, if any, shall expire at the

third annual shareholders' meeting after their election. At each annual shareholders'

meeting held thereafter, directors shall be chosen for a term of two (2) years or three (3)

years, as the case may be, to succeed those whose terms expire.