Section 392.040 - Election of directors - appointment of officers1. There shall be an annual election of directors to serve for the ensuing year, notice of which, appointing a time and place, shall be given by the directors chosen, as provided by law, for the first annual election, and thereafter by their successors in office; which notice shall be published not less than twenty days previous thereto in a newspaper published in the county where the principal office of the company shall be situated. The directors shall hold their offices for one year and until their successors are duly elected and qualified.2. They shall elect one of their number to be president of the company, and may appoint such other officers and agents as may be prescribed by the articles of association or bylaws of the company.Prior revisions: 1929 § 4918; 1919 § 10129; 1909 § 3323)