§ 27-3-2-2 — Notice of meeting; vote of members

Before issuing any stock as provided in section
1 of this chapter, such company shall, at least four (4) weeks before the
meeting provided for in this chapter, cause a printed notice of the time,
place, and purpose of such meeting to be mailed to each of its
members, and shall cause public notice to be given by publication
thereof, at least once a week, for four (4) weeks, in a newspaper of
general circulation in the county wherein is located the principal office
of said company, that the proposal to issue stock in pursuance of this
act, will be submitted to the members of such company at a meeting to
be held at a time and place to be named in such notice. If, after due
mailing and publication of such notice, two-thirds (2/3) of all the
members (present at such meeting), either in person or by proxy, shall
vote in favor of a proposal to issue stock as aforesaid, then the authority
conferred by section 1 of this chapter, shall take effect, and
subscription books may be opened.
Formerly: Acts 1895, c.158, s.2. As amended by P.L.252-1985,
SEC.143.