376.100. Mutual companies--contents of charter.

MISSOURI STATUTES AND CODES

376.100. Mutual companies--contents of charter.

Mutual companies--contents of charter.

376.100. When such corporators propose to form a mutualcompany, for the purpose designated in section 376.010, thecharter comprised in the declaration mentioned in section 376.050shall set forth:

(1) The name assumed by such corporation, and by which itshall be known;

(2) The place where the principal office for the transactionof its business shall be located;

(3) The specific kind or kinds of business which it proposesto transact;

(4) The number of persons from whom proposals for assuranceshall be received, the amount of premiums to be received ondeposit, and the amount of cash to be paid on the same, beforethe company shall begin to do business and issue policies;

(5) The manner in which the corporate powers granted bysections 376.010 to 376.670 are to be exercised, showing thenumber of directors, which shall not be more than twenty-one norless than nine, their powers and duties, the manner of theirelection, the mode of filling vacancies, and such otherparticulars as may be necessary to make manifest the objects andpurposes of the association, and the manner in which it is to beconducted.