AmeriCredit Amends Some Director Bylaws

The amendments specify directors in uncontested elections must receive a majority of the shareholder vote. Any incumbent director that does not receive a majority vote must resign, according to the filing with the Securities and Exchange Commission.

The amendments also gave the board several options on how to handle a director's resignation, including accepting the resignation or not accepting it and recommending a plan to address reasons for the votes against the individual.

Shares of AmeriCredit added 36 cents, or 2.2 percent, to $17.09 in afternoon trading. The stock has traded in a 52-week range of $15.42 to $29.46.