We let R be an o-minimal expansion of a field, V a convex subring, and (R0,V0) an elementary substructure of (R,V). Our main result is that (R,V) considered as a structure in a language containing constants for all elements of R0 is model complete relative to quantifier elimination in R, provided that kR (the residue field with structure induced from R) is o-minimal. Along the way we show that o-minimality of kR implies that the sets definable in kR are the same as the sets definable in k with structure induced from (R,V). We also give a criterion for a superstructure of (R,V) being an elementary extension of (R,V).