392.040. Election of directors--appointment of officers. - Missouri Statutes

Election of directors--appointment of officers.

392.040. 1. There shall be an annual election of directorsto serve for the ensuing year, notice of which, appointing a timeand place, shall be given by the directors chosen, as provided bylaw, for the first annual election, and thereafter by theirsuccessors in office; which notice shall be published not lessthan twenty days previous thereto in a newspaper published in thecounty where the principal office of the company shall besituated. The directors shall hold their offices for one yearand until their successors are duly elected and qualified.

2. They shall elect one of their number to be president ofthe company, and may appoint such other officers and agents asmay be prescribed by the articles of association or bylaws of thecompany.

(RSMo 1939 § 5323)

Prior revisions: 1929 § 4918; 1919 § 10129; 1909 § 3323)

CROSS REFERENCE:

Quorum of stockholders, powers, RSMo 351.267