§ 2-2-111 — Regular and special meetings

(a) In its bylaws, each association shall provide for one (1) or more regular meetings annually. (b) (1) The board of directors shall have the right to call a special meeting at any time. Members or stockholders holding ten percent (10%) of the voting power may file a petition with the chair of the board stating the specific business to be brought before the association and demand a special meeting at any time. (2) These meetings must be called by the board. (c) (1) Notice of all meetings, together with a statement of the purposes thereof, shall be mailed to each member at least five (5) days before the meeting. (2) The bylaws may require instead that the notice may be given by publication in a newspaper of general circulation, published at the principal place of business of the association. If no newspaper is published at that place, notice may be given in a newspaper having circulation at the principal place of business of the association.

Legislative History

Acts 1939, No. 153, § 11; 1983, No. 163, § 2; A.S.A. 1947, § 77-1011.