The articles of incorporation may provide for staggering the terms of directors by dividing the total number of directors into 2 or 3 groups, with each group containing 1/2 or 1/3 of the total, as near as may be practicable. In that event, the terms of directors in the first group expire at the first annual shareholders' meeting after their election, the terms of the second group expire at the second annual shareholders' meeting after their election, and the terms of the third group, if any, expire at the third annual shareholders' meeting after their election. At each annual shareholders' meeting held thereafter, directors shall be chosen for a term of 2 years or 3 years, as the case may be, to succeed those whose terms expire.
N.H. Rev. Stat. Ann. § 293-A:8.06
Staggered Terms for Directors
Known as the New Hampshire Business Corporation Act
The act spans §§ 293-A:10.01 to 293-A:9.56 (230 sections).
Source. 2013, 142:1, eff
Official source: New Hampshire General Court. Reproduced from public-domain New Hampshire statutes; confirm against the official source for the current text. Not legal advice.