388.070. Election of directors--terms of office.
Election of directors--terms of office.
388.070. Any railroad corporation heretofore or hereafterorganized under the laws of this state may elect its directorsfor one or more years, not to exceed three years, the time ofservice and mode of classifications to be provided for by thebylaws of the corporation; provided, however, that there shall bean annual election for such number or proportion of directors asmay be found upon dividing the entire number of directors by thenumber of years composing a term.
(RSMo 1939 § 5127)