Missouri Laws 260.605 – Board of directors, number, qualifications, election, term
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Terms Used In Missouri Laws 260.605
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The corporation shall have a board of directors in which all the powers of the corporation shall be vested and which shall consist of any number of directors, not less than three, all of whom shall be duly qualified electors of and taxpayers in the county or municipality. The directors shall serve as such without compensation. The directors shall be elected by the governing body of the county or municipality, and each director shall continue to hold office until his successor is elected.