{"data":{"id":"us-nc/n.c.-gen.-stat.-55-8-05","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 55-8-05","heading":"Terms of directors generally.","body":"(a)\tThe terms of the initial directors of a corporation expire at the first shareholders' meeting at which directors are elected.\n(b)\tThe terms of all other directors expire at the next annual shareholders' meeting following their election unless their terms are staggered under G.S. 55-8-06.\n(c)\tA decrease in the number of directors does not shorten an incumbent director's term.\n(d)\tThe term of a director elected to fill a vacancy expires at the next shareholders' meeting at which directors are elected.\n(e)\tDespite the expiration of a director's term, he continues to serve until his successor is elected and qualifies or until there is a decrease in the number of directors. (1901, c. 2, ss. 14, 39; Rev., ss. 1147, 1182; C.S., ss. 1144, 1175; 1927, c. 138; G.S., ss. 55-48, 55-112; 1955, c. 1371, s. 1; 1959, c. 1316, s. 33; 1969, c. 751, ss. 10, 11; 1989, c. 265, s. 1.)","path":["Chapter 55. North Carolina Business Corporation Act.","Article 8. Directors and Officers.","Part 1. Board of Directors."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_55/GS_55-8-05.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:57Z","sha256":"52f3847c7a2ce55f2136a7745e65a97e5279f4715c64eafe6616f963bdd7283f","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-55-8-04","next":"us-nc/n.c.-gen.-stat.-55-8-06"},"notice":"GroundRules: Original legal text. Not legal advice."}