SB 463 -- CORPORATE DIRECTORS

SPONSOR:  Gross (Byrd)

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee on
Judiciary by a vote of 18 to 0.

This bill increases the maximum term of office for a nonprofit
corporation director from five to six years.  This change
originally was enacted in Senate Bill 768 (1996), but the
Missouri Supreme Court found that bill to be unconstitutional on
procedural grounds.  Thus, the amendment to Section 355.331,
RSMo, was invalidated, and the law went back to a term of five
years for a director.

However, once Senate Bill 768 was enacted, the Revisor of
Statutes amended the section to show the term limit of nonprofit
corporation directors to be six years in the printed version of
the revised statutes.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that the bill is necessary to make
this section of law as enacted agree with the printed version
published by the Revisor of Statutes.

Testifying for the bill was Senator Gross.

OPPONENTS:  There was no opposition voiced to the committee.

Julie Jinkens McNitt, Legislative Analyst

Missouri House of Representatives
Last Updated July 25, 2003 at 10:13 am