Atlas · Joint-stock companies
The maximum term of office for board members is 3 years
AnswerThe term of office for board of directors members cannot exceed 3 years, with reelection permitted. The mandate extends until the formal inauguration of the newly elected administrators.
Reviewed on 2026-10-02 · next review 2027-04-02
Data
| Who | Criterion | Consequence | Source | Data of the data |
|---|---|---|---|---|
| Member of the Board of Directors | Statutory term of office | Maximum limit of 3 years, reelection permitted | Lei 6.404/1976, art. 140, III | 31/10/2001 (Lei 10.303) |
| Administrators (Board/Executive Board) | Expiration of term of office | Automatic extension until the inauguration of the newly elected | Lei 6.404/1976, art. 150, § 4.º | 15/12/1976 |
Data consulted on 02/10/2026.
Basis
- Lei n.º 6.404/1976, compiled (Planalto, in Portuguese): art. 140, III, sets the term of office for board members; art. 150, § 4.º, addresses the extension of the mandate until the successors take office.
How it applies
The company's bylaws must mandatorily define the term of office for members of the board of directors, respecting the legal limit of up to 3 years. The law expressly allows for the reelection of members. In the event of a vacancy, the substitute board member elected for the position shall complete the term of office that would have been served by the replaced member. Additionally, if the term of office ends before the election or inauguration of new administrators, the mandate is automatically extended until the new board members are formally invested.
Limits
- This sheet refers only to the time limit set by Lei n.º 6.404/1976 for companies; other entities or different types of societies are not the subject of this analysis.
- The 3-year rule is a maximum limit; the bylaws may provide for shorter terms.
- The base text reflects the wording consolidated by Lei n.º 10.303/2001; subsequent legislative changes or complementary CVM regulatory acts must be verified directly from the official source.