When a vacancy on the board of directors occurs other than by expiration of term, the remaining members of the board, by a majority vote, shall fill the vacancy, unless the bylaws provide for an election of directors by district stockholders. In that case, the board of directors shall immediately call a special meeting of the members or stockholders in that district to fill the vacancy.
Tenn. Code Ann. § 43-16-120
Vacancies in board of directors — Filling
Known as the Cooperative Marketing Law
The act spans §§ 43-16-101 to 43-16-148 (48 sections).
Acts 1923, ch. 100, § 12; Shan
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.