                                 CODE OF VIRGINIA

RESIGNATION OF DIRECTORS (§ 13.1-679)

A. A director may resign at any time by delivering a written notice of
resignation to the board of directors or its chairman, or to the secretary of
the corporation.

B. A resignation is effective as provided in subdivision A 9 of &#xA7; 13.1-610
unless the resignation provides for a delayed effectiveness including
effectiveness determined upon a future event or events. If a resignation
provides for a delayed effectiveness, the board of directors may fill the
pending vacancy before the effectiveness of the resignation if the board of
directors provides that the successor does not take office until the
effectiveness of the resignation. A resignation that is conditioned upon failing
to receive a specified vote for election as a director may provide that it is
irrevocable.

C. Any person whose name is of record in the office of the clerk of the
Commission as a director of a corporation, and who has resigned or whose name is
incorrectly of record, may file a statement to that effect with the Commission.

D. Upon the resignation of a director, the corporation may file an amended
annual report with the Commission indicating the resignation of the director and
the successor in office, if any.

HISTORY: 1985, c. 522; 1991, c. 124; 2005, c. 765; 2007, c. 165; 2019, c. 734;
2020, c. 1226.