Attorney General Opinion No. 1982-232

Download or read book Attorney General Opinion No. 1982-232 written by Robert T. Stephan and published by . This book was released on 1982 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: As provided by K.S.A. 16-6a02, the Kansas investment certificate guaranty corporation is governed by a board of directors. Subsection (c) of the statute requires the corporate by-laws to provide that the "initial" board of directors contain four classes of members. These classes, of equal number, represent large, medium and small companies, as well as the general public. In the absence of any statutory provision allowing these classes to be abolished, thus depriving one or more of them of board representation, the provisions of the statute apply to both the initial and subsequent boards of directors. Cited herein: K.S.A. 16-6a02, 16-6a03, 16-6a05, 16-6a07.