RICHMOND members have voted to limit the terms of directors at a fiery annual general meeting on Wednesday night.

Roughly 150 members turned out for the club's AGM at Punt Road Oval, questioning the club's directors after a failed season on-field and financial loss off it.

The Tigers' board has faced significant scrutiny in 2016 and recently underwent its second election in the past seven years when Peter Casey and Simon Wallace chose to contest the vacant positions.

Both campaigned for term limits for directors and a motion was passed on Wednesday night to limit board service to three separate terms. 

The members also voted to maintain their right to call an extraordinary general meeting with only 100 signatures, rejecting a proposed change to increase that number to five per cent of voting members. 

That would have required roughly 2500 signatures to call an EGM in 2016.

The issue of 100 members being able to call an EGM became a talking point in 2016 when rebel group Focus on Footy threatened such action to cause a spill of the board. 

Members of the failed ticket attended Wednesday night's AGM.

When asked if another poor season would prompt another challenge from Focus on Footy, Richmond president Peggy O'Neal replied: "I don't know but bring them on". 

Incumbent board members Kerry Ryan and Emmett Dunne had their re-election confirmed on Wednesday night after 4686 members exercised their right to vote. 

Dunne earned 71 per cent of the vote, followed by Ryan (47 per cent), Wallace (44) and Casey (35).

Club champion Dustin Martin and star defender Alex Rance were honoured with life membership, as was 1985 best and fairest winner Trevor Poole. 

Captain Trent Cotchin was also celebrated by the members for his retrospective 2012 Brownlow Medal, awarded on Tuesday.