In addition to any provisions which may be adopted by the incorporators and approved by the Supervisor of Savings and Loan Associations, the bylaws of every association shall provide:
(1) For an annual meeting of the membership of the association, or of the owners of permanent capital stock, for the purpose of electing directors;
(2) For not fewer than five (5) nor more than twenty-one (21) members of the board of directors;
(3) For not less than ten (10) days' written notice to all members, or holders of permanent capital stock, of any special meeting of the association. Provided, no notice of an annual meeting of an association shall be required;
(4) For a term of office not to exceed one (1) year for each member of the board of directors; and
(5) For the amendment of the bylaws, with the approval of the supervisor, by a majority of the members present, or holders of permanent capital stock, at any annual or special meeting of the association.
Section: Previous 23-37-302 23-37-303 23-37-304 23-37-305 23-37-306 23-37-307 23-37-308 23-37-309 23-37-310 23-37-311 23-37-312 23-37-313 23-37-314 23-37-315 NextLast modified: November 15, 2016