361.268. Powers of the board of directors vested in director of finance, when--temporary directors appointed.
Powers of the board of directors vested in director of finance,when--temporary directors appointed.
361.268. If at any time because of the suspension of one ormore directors pursuant to sections 361.262 to 361.269 thereshall be on the board of directors of a corporation less than aquorum of directors not so suspended, all powers or functionsvested in or exercisable by such board shall vest in and beexercisable by the director or directors on the board not sosuspended, until such time as there shall be a quorum of theboard of directors. In the event all of the directors of acorporation are suspended pursuant to sections 361.262 to361.269, the director shall appoint persons to serve temporarilyas directors in their place and stead pending the termination ofsuch suspensions, or until such time as those who have beensuspended cease to be directors of the corporation and theirrespective successors take office.
(L. 1985 H.B. 408 § 361.265 subsec. 6 subdiv. (2))