Common use of Term of Office of Directors Clause in Contracts

Term of Office of Directors. (1) A director, except a director appointed by Class E or F shareholders, holds office for two years and shall be eligible for re-appointment. (Inserted by S.R.O. 43/1996) (2) A vacancy in the Board shall be filled by the Class of shareholders which appointed the director to be replaced. (Inserted by S.R.O. 43/1996) (3) A director appointed to fill a vacancy holds office for the unexpired term of his predecessor.

Appears in 2 contracts

Samples: Eastern Caribbean Home Mortgage Bank Agreement Act, Eastern Caribbean Home Mortgage Bank Agreement Act

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Term of Office of Directors. (1) A director, except a director appointed by Class E or F shareholders, holds office for two years and shall be eligible for re-appointment. (Inserted by S.R.O. 43/1996) (2) A vacancy in the Board shall be filled by the Class of shareholders which appointed the director to be replaced. (Inserted by S.R.O. 43/1996) (3) A director appointed to fill a vacancy holds office for the unexpired term of his predecessor.predecessor.β€Œ

Appears in 1 contract

Samples: Eastern Caribbean Home Mortgage Bank Agreement Act

Term of Office of Directors. (1) A director, except a director appointed by Class E or F shareholdersshareholder, holds office for two years and shall be eligible for re-appointment. (Inserted by S.R.O. 43/1996). (2) A vacancy in the Board shall be filled by the Class of shareholders which appointed the director to be replaced. (Inserted by S.R.O. 43/1996). (3) A director appointed to fill a vacancy holds office for the unexpired term of his or her predecessor.

Appears in 1 contract

Samples: Eastern Caribbean Home Mortgage Bank Agreement

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Term of Office of Directors. (1) A director, except a director appointed by Class E or F shareholders, holds office for two years and shall be eligible for re-appointment. (Inserted by S.R.O. 43/1996) (2) A vacancy in the Board shall be filled by the Class of shareholders which appointed the director shareholders to be replaced. (Inserted by S.R.O. 43/1996) (3) A director appointed to fill a vacancy holds office for the unexpired term of his predecessor.

Appears in 1 contract

Samples: Eastern Caribbean Home Mortgage Bank Agreement

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