369.309. Commission created--members, terms, compensation.

MISSOURI STATUTES AND CODES

369.309. Commission created--members, terms, compensation.

Commission created--members, terms, compensation.

369.309. 1. There is created in the division of finance a "StateSavings and Loan Commission" which shall have such powers and duties as arenow or hereafter conferred upon it by law.

2. The commission shall consist of five members who shall beappointed by the governor. They shall be residents of this state, and oneof them shall be a member of the Missouri Bar in good standing. The othermembers of the commission shall each have had at least five years'experience in this state as an officer or director of one or moreassociations. Not more than three members of the commission shall bemembers of the same political party.

3. The term of office of each member of the commission shall be sixyears. Members shall serve until their successors are duly appointed andhave qualified. Each member of the state savings and loan commission shallserve for the remainder of the term for which the member was appointed tothe commission. The commission shall select its own chairman andsecretary. Vacancies in the commission shall be filled for the unexpiredterm in the same manner as in the case of an original appointment.

4. The members of the commission shall receive as compensation thesum of fifty dollars per day while discharging their duties, and they shallbe reimbursed for their actual and necessary expenses incurred in theperformance of their duties.

5. A majority of the members of the commission shall constitute aquorum and the decision of a majority of a quorum shall be the decision ofthe commission. The commission shall meet upon call of its chairman, or ofthe director of the division of finance, or of any two members of thecommission, and may meet at any place in this state.