State Codes and Statutes
Statutes > Missouri > T24 > C380 > 380_041Board of directors, election, qualifications, terms, officers--annualmeeting of company, held when, notice of requirements.
380.041. 1. Each Missouri mutual insurance company shallelect a board of at least five directors, each of whom shall bethe owner of property insurance in the company. The directorsshall be elected by a majority vote of the members voting at theannual meeting of the members for a term of not less than oneyear nor more than three years. The directors shall elect fromtheir number a president and vice president. The directors shallalso select a secretary, treasurer and such additional officersas they may deem necessary, who may or may not be members of thecompany. The offices of secretary and treasurer may be occupiedby one person.
2. Each Missouri mutual insurance company shall hold anannual meeting of its members on the date and time and at theplace specified in its articles of incorporation; immediatelythereafter, a separate meeting of the board of directors shall beheld. If the articles of incorporation are silent as to thedate, time and place of the annual meetings, those meetings shallbe held on the first Monday in February and shall be held at theregistered office of the corporation.
3. Notice of the annual meeting of the members shall be sentwith or mailed with each policy, and shall be stamped or printedon the policy. Notice of the annual meeting shall also bepublished once a week for two weeks before the date of themeeting in some daily or weekly newspaper published in the countywhere the principal home office of the company is located.
(L. 1984 H.B. 1498)Effective 1-1-85
