N.Y. Business Corporation Law § 703: Election and term of directors

§ 703. Election and term of directors.

(a) At each annual meeting of shareholders, directors shall be elected

to hold office until the next annual meeting except as authorized by

section 704 (Classification of directors). The certificate of

incorporation may provide for the election of one or more directors by

the holders of the shares of any class or series, or by the holders of

bonds entitled to vote in the election of directors pursuant to section

518 (Corporate bonds), voting as a class.

(b) Each director shall hold office until the expiration of the term

for which he is elected, and until his successor has been elected and

qualified.