Revises and consolidates the Charter of the Town of Davidson to now provide the following.
Provides for the Town of Davidson's (Town)'s incorporation, grants the Town municipal corporate powers conferred by general law, and sets out the Town's corporate boundaries.
Establishes the five-member Town Board of Commissioners (Board) and the Mayor as the Town's governing body, with the mayor elected to serve a two-year term and Board members serving staggered four-year terms. Includes mayor and member residency requirements. Sets forth the duties of the Mayor. Requires the Board to elect a Mayor Pro Tempore from among its members and details their powers. Provides for Board meetings, quorum, voting, compensation, and vacancies.
Provides for nonpartisan municipal elections in odd-numbered years. Regarding Board elections, requires all members be elected on a staggered schedule. Authorizes special elections and referenda to be held as provided by statutory law and general law.
Establishes the Town's operation under the council-manager form of government in accordance with Part 2 of Article 7 of GS Chapter 160A. Deems the Town Manager the chief Town administrator, with powers and duties provided by general law and as prescribed by the Board. Requires the Board to appoint a Town Attorney. Directs the Board to appoint a Town Clerk. Allows the Town Manager to appoint other administration and department heads. 
Requires in the 2025 election that the two persons receiving the two highest numbers of votes serve four-year terms and the three persons receiving the next three highest numbers of votes serve two-year terms. Requires in 2027, and quadrennially thereafter, three members of the Board to be elected for four-year terms and in 2029, and quadrennially thereafter, two members of the Board to be elected for four-year terms.
Specifies the legislative purpose and intent of the act to revise and consolidate the Town Charter. Provides for interpretation and effect of the act.
Repeals the following SL Chapters and Sections, either consolidated in this act or no longer necessary: SL 1891-281, SL 1935-106, and SL 1957-36. Specifies that this act has no effect upon: SL 1993-411 (exemption from certain zoning notices); SL 1997-420 (concerning the regulation of trees); and SL 1999-85 (allowing the Town to make additional voluntary satellite annexations if certain criteria are met).
Provides for the continued validity of all existing ordinances, resolutions, and other provisions of the Town not inconsistent with the act. Includes a severability clause. Provides a savings clause for pending actions and proceedings.