These documents are currently being revised to incorporate the changes made during the 2024 Legislative Session. Please consult the Sections Affected Table for changes made during the 2024 Legislative Session.
Contract rights of officers.
(1) The appointment of an officer does not itself create contract rights.
(2) An officer's removal does not affect the officer's contract rights, if any, with the corporation. An officer's resignation does not affect the corporation's contract rights, if any, with the officer.