1. Every insurance company organized under the laws of Missouri shall have a president and a secretary who shall be chosen by the directors, and such other officers as shall be prescribed by the bylaws of the corporation. Unless the bylaws otherwise provide, any two or more offices may be held by the same person except the offices of president and secretary.

2. All officers of the company, as between themselves and the corporation, shall have such authority and perform such duties in the management of the property and affairs of the corporation as may be provided in the bylaws, or, in the absence of such provision, as may be determined by resolution of the board of directors.

Terms Used In Missouri Laws 375.181

  • 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.
  • person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
  • Property: includes real and personal property. See Missouri Laws 1.020