Title
Acknowledgement and Seating of Newly-Elected Directors - D Ballard
Other Info
Submitted By: Don Ballard
Department: General Counsel
Discussion
PEC Bylaws, Article III, Terms. Except as otherwise provided in these Bylaws, a Director’s term is three (3) years and until a successor Director is elected ("Director Term"), which may be more or less than three (3) full years depending on the actual dates of the Director’s election at Annual Meeting and service through the Annual Meeting in the third year after such Director’s election. Three years shall be measured as the period from the date of the Director’s election at Annual Meeting until the date of the Annual Meeting in the third year after such Director’s election. A Director Term begins immediately upon adjournment of the Member Meeting at which the Director is elected. A Director Term ends immediately upon adjournment of the Member Meeting at which his or her successor is elected. A Director may not serve more than four (4) consecutive full Director Terms ("Term Limit").