Term Limits

Refers to limitations established by the governing documents on the number of terms a director may serve. The limits can include a permanent disqualification after a specified number of terms, or limits on serving more than a specified number of consecutive terms. A term limits proposal should make clear whether it will apply to sitting directors or to the terms such directors have already served at time of adoption of the provision, but if the adopted language does not clearly indicate an intent to make the provision retroactive, it should apply prospectively only.

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