379.060. Charter of mutual companies.

MISSOURI STATUTES AND CODES

379.060. Charter of mutual companies.

Charter of mutual companies.

379.060. When such incorporators propose to form acorporation for the purpose of doing business on the mutual plan,the charter comprised in the declaration mentioned in section379.030 shall 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 insuranceshall 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 379.010 to 379.160 are to be exercised, showing thenumber of directors and trustees, which shall not be more thanthirteen nor less than nine, and their respective powers andduties, and such other particulars as may be necessary to makemanifest the object and purposes of the association, and themanner in which it is to be conducted.