☰ Revisor of Missouri

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 380

< > Effective - 01 Jan 1985, see footnote bottom

  380.381.  Board of directors, election — terms — vacancies — annual meeting, quorum, voting rights. — 1.  The management of any company operating under the provisions of sections 380.201 to 380.591 shall be vested as provided in the articles of incorporation in a board of at least five directors each of whom shall be the owner of property insured in the company.  Directors shall be elected by a majority vote of the members voting at the annual meeting of the members for a term of not less than one year nor more than seven years; however, the articles of incorporation may provide for the classification of directors into three groups the terms of which expire in different years.  Vacancies in the board may be filled for the unexpired term by the remaining directors.

  2.  The annual meeting of the members of the company shall be held annually as provided in the articles of incorporation.  A quorum shall consist of such number of members not less than eight as the articles of incorporation may provide.  Each member of the company shall be entitled to one vote in all meetings of members.  Votes by proxy may be received if the articles of incorporation so provide but only in accordance therewith.

­­--------

(L. 1984 H.B. 1498)

Effective 1-01-85


---- end of effective  01 Jan 1985 ----

use this link to bookmark section  380.381


Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. Revisor Home    

Other Information
 Recent Sections Editorials May Be Cited As Tables & Forms Multiple Enact
Repeal & Transfer Definitions End Report

Site changes Pictures Contact

Other Links
Legislative Research Oversight MOLIS
Library MO WebMasters
Senate
Missouri Senate
State of Missouri
MO.gov
House
Missouri House

@15:56:15.8 28 :)