§ 8711 Filling Board Vacancies

• •If a spot opens up on the board during the process of closing down a company, it can be filled.
• •The way to fill this spot is explained in another part of the law (Section 7224).
• •This rule was added in 1978.

A company is shutting down, and one of the board members quits.

The company can find someone new to take that board member's place, but they have to follow the rules in Section 7224 to do it.