Missouri Laws 362.1037 – Management authority, exclusively vested
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Exclusive authority to manage a family trust company shall be vested in:
(1) If a corporation, a board of directors that consists of at least three directors; or
Terms Used In Missouri Laws 362.1037
- 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.
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
(2) If a limited liability company, a board of directors or managers that consists of at least three directors or managers.
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At least one director or manager of the company shall be a resident of this state.