§ 7003. Election and tenure of directors. 1. At each annual meeting of
stockholders of a corporation, the stockholders shall elect directors to
hold office until the next annual meeting except as authorized by
section seven thousand four of this article. The organization
certificate may provide for the election of one or more directors by the
holders of the stock of any class or series, voting as a class.

2. Each director shall, unless sooner removed or disqualified, hold
office until the expiration of the term for which he is elected, and
until his successor has been elected and qualified.