South Carolina § 33-46-720 Recommendation of dissolution; membership vote; meeting; notice.

South Carolina Statutes

§ 33-46-720 — Recommendation of dissolution; membership vote; meeting; notice.

South Carolina·Title 33 CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS·Ch. 46 TELEPHONE COOPERATIVE ACT

Two-thirds of the membership of the board of directors shall first recommend to the membership that the telephone cooperative be dissolved. The proposition that the telephone cooperative be dissolved must be submitted to the membership of the telephone cooperative for a vote at a special meeting of the membership called only for this purpose. The notice for the meeting at which a proposal to dissolve the telephone cooperative is considered shall set forth:

(1)a detailed proposition for dissolution;

(2)the plan for sale and distribution of assets;

(3)the plan for continuance of service; and (4) the time and location of the meeting. The proposed voluntary dissolution is approved upon affirmative vote of not less than two-thirds of the members of the telephone cooperative.

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Two-thirds of the membership of the board of directors shall first recommend to the membership that the telephone cooperative be dissolved. The proposition that the telephone cooperative be dissolved must be submitted to the membership of the telephone cooperative for a vote at a special meeting of the membership called only for this purpose. The notice for the meeting at which a proposal to dissolve the telephone cooperative is considered shall set forth: (1) a detailed proposition for dissolution; (2) the plan for sale and distribution of assets; (3) the plan for continuance of service; and (4) the time and location of the meeting. The proposed voluntary dissolution is approved upon affirmative vote of not less than two-thirds of the members of the telephone cooperative.

South Carolina § 33-46-720 (Recommendation of dissolution; membership vote; meeting; notice.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.