If your bylaws don't specifically state a term limit (for example: may serve for no more than two consecutive years) then you can keep running. If you do decide to institute term limits, I would recommend including the wording "unless there are no other candidates." (ie The president may serve no more than two consecutive terms, unless there are no other candidates.) Every group occasionally runs into the situation where there's no one else to take over, and you don't want to box yourself into a corner.
- Craig
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