Common use of Term of Office of Directors Clause in Contracts

Term of Office of Directors. In the election of Directors, the Directors must each be elected for a term of: [a] one year, if the Director is completing the term of a Director who vacated their office in the first year of their two-year term; or [b] two years, in a manner to ensure that no more than a simple majority of Directors is elected for a term of two years at any Annual General Meeting.

Appears in 2 contracts

Samples: Rules of Cooperative Housing Association, Rules of Byrne Creek Housing Co Operative

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Term of Office of Directors. In the election of DirectorsDirectors held at each Annual General Meeting, the Directors must each be elected for a term of: [a] one year, if the Director is completing the term of a Director who vacated their office in the first year of their two-year term; or [b] two years, in a manner to ensure that no more than a simple majority of Directors is elected for a term of two years at any Annual General Meeting.

Appears in 1 contract

Samples: Rules of Sunkatchers r.v. Park Co Operative

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Term of Office of Directors. β€Œ In the election of Directors, the Directors must each be elected for a term of: [a] one year, if the Director is completing the term of a Director who vacated their office in the first year of their two-year term; or [b] two years, in a manner to ensure that no more than a simple majority of Directors is elected for a term of two years at any Annual General Meeting.

Appears in 1 contract

Samples: Rules of Pine Ridge Housing Co Operative

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