Missouri § 370.164 Suspension, effect on board of directors, procedure.

Missouri Statutes

§ 370.164 — Suspension, effect on board of directors, procedure.

Missouri § 370.164

Title XXIVBUSINESS AND FINANCIAL INSTITUTIONS

Ch. 370Credit Unions

This text of Missouri § 370.164 (Suspension, effect on board of directors, procedure.) is published on Counsel Stack Legal Research, covering Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mo. Rev. Stat. § 370.164 (2026).

Text

If at any time because of the suspension of one or more directors under sections 370.157 or 370.161 to 370.165 there shall be on the board of directors of a credit union less than a quorum of directors not so suspended, all powers or functions vested in or exercisable by such board shall vest in and be exercisable by the director or directors on the board not so suspended, until such time as there shall be a quorum of the board of directors.  In the event all of the directors of a corporation are suspended under sections 370.157 or 370.161 to 370.165 , the director shall appoint persons to serve temporarily as directors in their place and stead pending the termination of such suspensions, or until such time as those who have been suspended cease to be directors of the credit union and thei

Free access — add to your briefcase to read the full text and ask questions with AI

If at any time because of the suspension of one or more directors under sections 370.157 or 370.161 to 370.165 there shall be on the board of directors of a credit union less than a quorum of directors not so suspended, all powers or functions vested in or exercisable by such board shall vest in and be exercisable by the director or directors on the board not so suspended, until such time as there shall be a quorum of the board of directors. In the event all of the directors of a corporation are suspended under sections 370.157 or 370.161 to 370.165 , the director shall appoint persons to serve temporarily as directors in their place and stead pending the termination of such suspensions, or until such time as those who have been suspended cease to be directors of the credit union and their respective successors take office.