370.180. Board of directors, committees--election--terms--oath. - Missouri Statutes

Board of directors, committees--election--terms--oath.

370.180. 1. At the annual meeting the members shall elect aboard of directors and, if the bylaws so provide, a creditcommittee and a supervisory committee. If the bylaws so provide,a supervisory committee may be appointed by the board ofdirectors, one of whom may be a director other than a compensatedofficer of the board.

2. A credit committee shall be appointed by the board ofdirectors, unless the bylaws provide for the election of suchcommittee or, in the alternative, do not provide for suchcommittee and provide for the appointment by the board of acredit manager.

3. All members of the board and committees and all officersshall be sworn, and shall hold their several offices for suchterms as may be provided in the bylaws.

4. The oath shall be subscribed by the individual taking itand certified by the officer before whom it is taken and shallimmediately be transmitted to the director and filed andpreserved in his office.

(RSMo 1939 § 5528, A.L. 1984 H.B. 962)

Prior revision: 1929 § 5086