Financial Code section 6154

If the members or stockholders fail to elect a director to fill each vacancy created by an increase in the number of directors, the current directors may fill the vacancy by electing a director to serve until the next annual meeting of the members or stockholders at which time a director shall be elected to fill the vacancy for the unexpired term for the class of directors in which the vacancy exists.

Source: Section 6154, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=6154.­ (updated Jan. 1, 1983; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 6154's source at ca​.gov