§ 7-127-101 — Annual and regular meetings

(1) Unless the bylaws eliminate the
requirement for holding an annual meeting, a nonprofit corporation that has voting
members shall hold a meeting of the voting members annually at a time stated in or
fixed in accordance with the bylaws, or, if not so fixed, at a time and date stated in
or fixed in accordance with a resolution of the board of directors.

(2) A nonprofit corporation with members may hold regular membership
meetings at a time and date stated in or fixed in accordance with the bylaws, or, if
not so fixed, at a time and date stated in or fixed in accordance with a resolution of
the board of directors.

(3) Annual and regular membership meetings may be held in or out of this
state at the place stated in or fixed in accordance with the bylaws, or, if not so
stated or fixed, at a place stated or fixed in accordance with a resolution of the
board of directors. If no place is so stated or fixed, annual and regular meetings
shall be held at the nonprofit corporation's principal office.

(4) The failure to hold an annual or regular meeting at the time and date
determined pursuant to subsection (1) of this section does not affect the validity of
any corporate action and does not work a forfeiture or dissolution of the nonprofit
corporation.

Legislative History

Source: L. 97: Entire article added, p. 674, � 3, effective July 1, 1998.