(1) Unless the organic rules otherwise provide, and subject to subsections (3) and (4) of this section and KRS 272A.3-020(5), the term of a director expires at the annual members meeting following the director's election or appointment. The term of a director may not exceed three (3) years.
(2) Unless the organic rules otherwise provide, a director may be reelected.
(3) Except as otherwise provided in subsection (4) of this section, a director continues to serve until a successor director is elected or appointed and qualifies or the director is removed, resigns, is adjudged incompetent, or dies.
(4) Unless the organic rules otherwise provide, a director does not serve the remainder of the director's term if the director ceases to qualify to be a director.