1. (a) An officer may resign at any time by delivering notice to one (1) of the following:

   1. (1) The board of directors, the chairman of the board of directors, or the secretary of the corporation.
   2. (2) If articles of incorporation or bylaws provide, to another designated officer.

2. (b) A resignation is effective when the notice is effective unless the notice specifies a later effective date. If:

   1. (1) a resignation is made effective at a later date; and

   2. (2) a corporation accepts the future effective date;

      the corporation's board of directors 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.

3. (c) A board of directors may remove an officer at any time with or without cause.
4. (d) An officer who appoints another officer or assistant officer may remove the appointed officer or assistant officer at any time with or without cause.

As added by P.L.179-1991, SEC.1.