Oregon Revised Statutes Chapter 65 § 65.314 — Terms

Terms of directors generally. (1) A corporation’s articles of incorporation or bylaws may specify the terms of directors. Except for designated directors or appointed directors, the terms of directors may not exceed five years. In the absence of any term specified in the articles of incorporation or bylaws, the term of each director is one year. Directors may be elected for successive terms. (2) A decrease in the number of directors or term of office does not shorten an incumbent director’s term. (3) Except as provided in the articles of incorporation or bylaws: (a) The term of a director filling a vacancy in the office of an elected director expires at the next election of directors; and (b) The term of a director filling any other vacancy expires at the end of the unexpired term that the director is filling. (4) Despite the expiration of a director’s term, the director continues to serve until the director’s successor is elected, designated or appointed and qualifies, or until there is a decrease in the number of directors. [1989 c.1010 §74; 2019 c.174 §53]