176.505. Articles of association or declaration of trust, contents, file with director. - Missouri Statutes

Articles of association or declaration of trust, contents, file withdirector.

176.505. Any group of two or more qualifying institutions establishingan association under the provisions of sections 176.500 to 176.540 shall,through an attorney in fact selected by such institutions, file with thedirector of the department of insurance, financial institutions andprofessional registration a copy of its articles of association or declarationof trust. Such articles of association or declaration of trust shall includethe names of the institutions initially associated, the method by which otherinstitutions may be admitted to the association as members of the association,the purposes of the association including the types of risks shared, theamount of initial assessment which has been paid into the association by eachmember, the method of assessment of each member thereafter, and the maximumamount of any assessment which the association may make against any of itsmembers. The articles of association or declaration of trust shall providefor bylaws and for the amendment of the articles of association or declarationof trust and bylaws.

(L. 1986 H.B. 1387 § 2)