160.805. Articles of incorporation and bylaws--members, terms, staff--annual report. - Missouri Statutes

Articles of incorporation and bylaws--members, terms, staff--annualreport.

160.805. 1. The articles of incorporation and bylaws of thecorporation shall provide that the purpose of the corporation is to createa more efficient and effective education system that more adequatelyprepares students for the challenges of entering the workforce.

2. The board of directors of the corporation shall be composed ofthirteen members. The governor shall annually appoint one of its members,who shall be employed in the private sector, as chairperson. The boardshall consist of the following members:

(1) The director of the department of economic development;

(2) The commissioner of higher education;

(3) The chairperson of the coordinating board for higher education;

(4) The president of the state board of education;

(5) The chairperson of the coordinating board of early childhood;

(6) The commissioner of education;

(7) Seven members appointed by the governor. Two members shallrepresent higher education institutions, one two-year institution and onefour-year institution; two members shall represent elementary and secondaryschools; two members shall represent the private, for-profit businesssector; and one member shall represent an early childhood educationprovider.

3. Each member of the board of directors of the corporation appointedby the governor shall serve for a term of four years. Of the directorsinitially appointed to the board of directors by the governor, twodirectors shall be designated by the governor to serve a term of fouryears, two directors shall be designated to serve a term of three years,two directors shall be designated to serve a term of two years, and onedirector shall be designated to serve a term of one year. Thereafter,directors shall serve a term of four years. Each director shall continueto serve until a successor is duly appointed by the governor.

4. The corporation may receive money from any source, may borrowmoney, may enter into contracts, and may expend money for any activitiesappropriate to its purpose.

5. The corporation may appoint staff and do all other thingsnecessary or incidental to carrying out the functions listed in sections160.800 to 160.820.

6. Any changes in the articles of incorporation or bylaws shall beapproved by the governor.

7. The corporation shall submit an annual report to the governor andto the Missouri general assembly by the first day of November and shallinclude detailed information on the structure, operation, and financialstatus of the corporation. The corporation shall conduct an annual publichearing to receive comments from interested parties regarding the report,and notice of the hearing shall be given at least fourteen days prior tothe hearing.

8. The corporation shall be subject to an annual audit by the stateauditor. The corporation shall bear the full cost of the audit.

(L. 2009 S.B. 291)