362.1037. Management authority, exclusively vested.
82 words·~1 min read·
/mo/chapter-362/362-1037A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
362.1037. Management authority, exclusively vested. — 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
(2)If a limited liability company, a board of directors or managers that consists of at least three directors or managers.
At least one director or manager of the company shall be a resident of this state.
--------
(L. 2017 H.B. 292, A.L. 2020 S.B. 599)