Missouri Revised Statutes













Chapter 376

Life, Health and Accident Insurance

←376.146

Section 376.147.1

376.148→

August 28, 2015

Meetings of board of mutual, notice--executive committee of board, powers.

376.147. 1. Meetings of the board of directors or trustees of any

mutual life insurance corporation shall be upon such notice as the articles

of agreement prescribe. Attendance of a director or trustee at any meeting

constitutes a waiver of notice of such meeting, except when a director or

trustee attends the meeting for the express purpose of objecting to the

transaction of any business because the meeting is not lawfully called or

convened. The notice or waiver of notice need not specify the business to be

transacted at, nor the purpose of, any regular or special meeting of the

board of directors or trustees.



2. If the articles of agreement of any mutual life insurance corporation

so provide, the board of directors or trustees, by a resolution adopted by a

majority of the whole board, may designate three or more of its number to

constitute an executive committee, which committee shall, to the extent

provided in the resolution or in the articles of agreement, have and

exercise, during the interim between the meetings of the board, all of the

authority of the board in the management of the corporation.



3. The designation of such committee shall not relieve the board, or any

member thereof, of any responsibility imposed by law.



(L. 1957 p. 224 §§ 8, 9)







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