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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 362

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  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 three directors or managers.

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At least one director or manager of the company shall be a resident of this state.

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(L. 2017 H.B. 292)


---- end of effective   28 Aug 2017 ----

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