§ 17-19-1031 — Amendment terminating members or redeeming or canceling memberships

(a) Any amendment to the articles or bylaws of a public
benefit or mutual benefit corporation that would terminate all
members or any class of members or redeem or cancel all
memberships or any class of memberships shall meet the
requirements of the act and this section.
(b) Before adopting a resolution proposing such an
amendment, the board of a mutual benefit corporation shall give
notice of the general nature of the amendment to the members.
(c) After adopting a resolution proposing such an
amendment, the notice to members proposing the amendment shall
include one (1) statement of up to five hundred (500) words
opposing the proposed amendment if such statement is submitted
by any five (5) members or members having three percent (3%) or
more of the voting power, whichever is less, not later than
twenty (20) days after the board has voted to submit the
amendment to the members for their approval. In public benefit
corporations the production and mailing costs shall be paid by
the requesting members. In mutual benefit corporations the
production and mailing costs shall be paid by the corporation.
(d) Any such amendment shall be approved by the members by
two-thirds (2/3) of the votes cast by each class.
(e) The provisions of W.S. 17-19-621 shall not apply to
any amendment meeting the requirements of the act and this
section.