362.253. Two or more directors to constitute an executive committee--when. - Missouri Statutes

Two or more directors to constitute an executive committee--when.

362.253. If the bylaws so provide, the board of directors,by resolution adopted by a majority of the whole board, maydesignate two or more directors to constitute an executivecommittee, which committee, to the extent provided in theresolution or in the bylaws of the bank or trust company, shallhave and exercise all of the authority of the board of directorsin the management of the bank or trust company; but thedesignation of the committee and the delegation thereto ofauthority shall not operate to relieve the board of directors, orany member thereof, of any responsibility imposed upon him bythis chapter.

(L. 1967 p. 445)