Statute · New York Business Corporation Law
N.Y. Bus. Corp. Law § 703 — Election and term of directors
N.Y. Bus. Corp. Law § 703
- Type
- Statute
- Source
- New York Business Corporation Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 703. Election and term of directors.
Citator
N.Y. Bus. Corp. Law § 703 — Election and term of directors is in force in the current edition of the Code, and nothing recorded condemns it.
§ 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.