This document will provide a guide to the rules and regulations for the preparation and approval of survey plats and legal descriptions. The office of a director becomes vacant if the director dies or resigns.ORS 60.331(1) permits either the board or the shareholders to fill vacancies on the board of directors. The statute does not indicate what would happen if the. For the following RITA Members, S-Corp distributive shares that do not represent wages are generally not taxable and should not be reported on Form 37:. Directors need not be residents of Ohio or shareholders of the corporation, unless the articles or the corporation's "regulations" so require. Under Ohio law, a corporation must have at least three directors, unless there are less than three shareholders. No reason the City would issue an assessment. And without an assessment, the Board lacks jurisdiction to hear any "appeal" from this dispute. However, you can opt to have as many as you want.