Part 6 — Management and Administration Division 1 Membership
89 Qualifications of director
every director who is by the articles of a company required to hold
a specified share qualification, and who is not already qualified,
shall obtain the director's qualification within 2 months after his or
her appointment, or any shorter time fixed by the articles.
(2) The office of director of a company shall be vacated if the
director does not, within 2 months from the date of the director's
appointment, or within any shorter time fixed by the articles, obtain
the qualification, or if after the expiration of that period or shorter
time the director ceases at any time to hold the director's
qualification, and a person vacating office under this section is
incapable of being reappointed director of the company until he or
she has obtained his or her qualification.
(3) If after the expiration of the period or shorter time mentioned
in this section any unqualified person acts as a director of the
company, the person is guilty of an offence.
(4) The acts of a director or manager are valid notwithstanding any
defect that may afterwards be discovered in the appointment or
qualification.
RSA 1980 cC-20 s89