No Candidates. We have two directors whose two-year terms expire this year. Nomination letters went out but no one responded. Are these directors automatically reelected even if they didn’t submit their names for nomination? –Lee B.
ANSWER: If you cannot find anyone willing to serve, your existing directors remain in office until their replacements are elected or appointed. (Corp. Code §7220(b).) If they are unwilling to continue in office, they have the option of resigning. If that occurs, the remaining directors need to recruit and appoint someone to fill the vacancies.
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