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HomeFinancial CodeDiv. 2Ch. 3Art. 4§ 6154 Filling Director Vacancies

§ 6154 Filling Director Vacancies

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 6154 Filling Director Vacancies

Key Takeaways

  • •If a company adds more director spots but no one is chosen to fill them, the current directors can pick someone to fill the empty spot.
  • •The person picked by the current directors will only stay until the next big meeting, where everyone will vote for someone to finish the rest of the term.
  • •This rule helps make sure there are always enough directors to make decisions.

Example

A company decides to add two more director spots, but no one is voted in to fill them during the meeting.

The current directors can choose someone to fill those spots temporarily. At the next big meeting, everyone will vote to pick someone to finish the rest of the term for those spots.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 6154 Filling Director Vacancies

If the members or stockholders fail to elect a director to fill each vacancy created by an increase in the number of directors, the current directors may fill the vacancy by electing a director to serve until the next annual meeting of the members or stockholders at which time a director shall be elected to fill the vacancy for the unexpired term for the class of directors in which the vacancy exists. (Added by Stats. 1983, Ch. 1091, Sec. 2.)

Last verified: January 23, 2026

Key Terms

stockdirector

Related Statutes

  • § 6150 Association Director Duties
  • § 6152 Director Automatic Removal
  • § 377 Financial Institution Security Pledges
  • § 6050 Stockholder Inspection Rights
  • § 6151 Director Officer Conviction Ban

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 6154.
View Official Source