Iowa Code (Last Updated: December 05, 2016) |
Title XII. BUSINESS ENTITIES |
Chapter 490. BUSINESS CORPORATIONS |
Section 490.807. Resignation of directors.
Latest version.
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1. A director may resign at any time by delivering a written resignation to the board of directors or its chair, or to the secretary of the corporation.
2. A resignation is effective when the resignation is delivered unless the resignation specifies a later effective date or an effective date determined upon the happening of an event or events. A resignation that is conditioned upon failing to receive a specified vote for election as a director may provide that it is irrevocable.