371.110. Board of directors to manage corporation--number, terms. - Missouri Statutes

Board of directors to manage corporation--number, terms.

371.110. 1. The management of the affairs of thecorporation shall be administered by a board of directors. Inthe first instance, the directors, not less than nine, shall beelected by the incorporators to serve until the first annualmeeting. Thereafter, the board of directors shall be composed ofnot less than fifteen persons who shall be residents of thisstate. Each congressional district shall have at least onedirector and not more than two directors shall be residents ofany one congressional district.

2. If a vacancy occurs in the board of directors throughdeath, resignation or otherwise, the remaining directors mayelect a qualified person to fill the vacancy until the nextannual meeting of stockholders.

3. The directors shall hold office until their successorsare elected and qualified.

(L. 1961 p. 157 § 9, A.L. 1963 p. 478)