1. (a) Unless the bylaws provide otherwise, the board of directors shall elect the officers.
2. (b) Unless the bylaws provide otherwise, an officer serves for one year and until his successor is elected and qualifies.

3. (c)

   1. (1) The board of directors may remove any officer or agent of the corporation.
   2. (2) The removal of an officer or agent does not prejudice any of his contract rights.
4. (d) Unless the bylaws provide otherwise, the board of directors may fill a vacancy which occurs in any office.

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 2021, c. 779, § 1, eff. Oct. 1, 2021; Acts 2021, c. 780, § 1, eff. Oct. 1, 2021.

Formerly Art. 23, §§ 60, 61.