2006 Kansas Code - 40-1004

      40-1004.   Directors. In companies organized under the provisions of this article, the number of directors shall not be less than nine. Of those chosen at the first election, one-third shall be chosen for one year, one-third for two years, and one-third for three years, or until their successors are elected and qualified; and at each annual election thereafter a number equal to one-third of the whole number of directors shall be chosen for three years, to fill the places of those whose term of office expires. A majority of the board of directors shall be a quorum for the transaction of business. Vacancies in the board shall be filled by the remaining members until the next annual meeting. Any person holding a policy in force of not less than five hundred dollars is eligible to the office of director; ceasing at any time to be eligible, he shall vacate such office.

      History:   L. 1927, ch. 231, 40-1004; June 1.