The Articles of Association must provide for an age limit for the performance of the duties of director, applying either to all directors or to a specified percentage of them.
Failing an express provision in the Articles of Association, the number of directors over the age of seventy may not exceed one third of the directors in office.
Any appointment made in breach of the provisions of the preceding paragraph shall be null and void.
Failing an express provision in the Articles of Association providing for another procedure, where the statutory or legal limit set for the age of directors is exceeded, the oldest director shall be deemed to have resigned automatically.
A director placed under guardianship shall also be deemed to have resigned automatically.
The nullity provided for in the third paragraph and the compulsory resignation provided for in the fourth and penultimate paragraphs shall not entail the nullity of the deliberations in which the director irregularly appointed or deemed to have compulsorily resigned took part.