Resignation and removal of officers

7-108-303. Resignation and removal of officers. (1) An officer may resign at any time by giving notice of resignation to the corporation. (2) A resignation of an officer is effective when the notice is received by the corporation unless the notice states a later effective date. (3) If a resignation is made effective at a later date, the board of directors may permit the officer to remain in office until the effective date and may fill the pending vacancy before the effective date if the board of directors provides that the successor does not take office until the effective date, or the board of directors may remove the officer at any time before the effective date and may fill the resulting vacancy. (4) Unless otherwise provided in the bylaws, the board of directors may remove any officer at any time with or without cause. The bylaws or the board of directors may make provision for the removal of officers by other officers or by the shareholders. (5) Repealed. Source: L. 93: Entire article added, p. 785, � 1, effective July 1, 1994. L. 2000: (5) amended, p. 978, � 59, effective July 1. L. 2002: (5) amended, p. 1848, � 114, effective July 1; (5) amended, p. 1713, � 114, effective October 1. L. 2003: (2) amended, p. 2320, � 245, effective July 1, 2004. L. 2004: (5) repealed, p. 1499, � 261, effective July 1. L. 2021: (1) amended, (HB 21-1124), ch. 41, p. 170, � 21, effective April 19.